DUBAI Dec 8 Saudi Arabian power and water plant
developer ACWA Power IPO-ACWA.SE has postponed its plans for a
potential bond issue to 2017, a document from lead arrangers
said on Thursday.
ACWA, in which Saudi sovereign entities hold a combined 16.3
percent stake, had been set to conduct the first international
bond offer from the kingdom since the government's mammoth $17.5
billion debt sale in October, which was Riyadh's debut sovereign
"Due to timing constraints and requests from investors for
more time to evaluate the proposed offering, ACWA Power will
continue the investor education process and intends to access
the capital markets in early 2017," the document said.
It noted that more than 100 investors from the United
States, Europe, Asia and the Middle East had already taken part
in a "constructive global investor roadshow".
Jefferies, Citi, CCB Singapore, Mizuho and Standard
Chartered had been mandated to arrange the offer, which would
have a total size of about $1 billion according to a document
issued by the firm to investors and seen by Reuters last month.
(Reporting by David French; Editing by Andrew Torchia)