Sadara Basic Services says parent firm seeks to reprofile, amend terms of SAR 7.7 bln sukuk

26/11/2020 Argaam

Sadara Basic Services Co. announced today, Nov. 26, that its parent, Sadara Chemical Co., seeks to reprofile debt and a letter requesting its consent to amend certain commercial terms relating to SAR 7.5 billion sukuk has been received.

 

The sukuk was issued on March 31, 2013, and expires on Dec.15, 2028.

 

The company will share with the sukuk holders more information on these amendments when received from its parent, it said in a bourse filing.

 

In addition, it plans to hold discussions with its sukuk holders during a special meeting soon to consider this consent request letter and relevant materials.

 

The company will announce the invitation to the special meeting and other information at a later stage.

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