Logo of National Shipping Company of Saudi Arabia
National Shipping Company of Saudi Arabia (Bahri) completed the issuance of SAR-denominated sukuk worth SAR 3.9 billion, the company said in a bourse statement today, July 6.
The sukuk were settled on July 5.
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Sukuk Issuance Details |
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Offer Type |
SAR-denominated sukuk by private placement offer |
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Offer Value |
SAR 3.9 billion |
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Total Numbers |
3,900 (based on the minimum denomination and total issue size) |
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Par Value |
SAR 1 mln |
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Returns |
Six months Saudi Arabian Interbank Offered Rate (SAIBOR) + 1.20% as mentioned in the sukuk’s offering circular |
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Maturity |
7 years |
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Terms of Redemption |
Sukuk shall be redeemed on the maturity date. It may be redeemed prior to the scheduled maturity date in certain cases as detailed in the offering circular |
The company named HSBC Saudi Arabia as lead coordinator and Al Rajhi Capital, HSBC Saudi Arabia and SNB Capital Co. as joint lead managers.
The announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities and is subject to the terms and conditions of the sukuk.
Bahri will announce any other relevant material developments in due course, the statement noted.
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