Saudi Arabian Mining Co. (Maaden) headquarters
Saudi Arabian Mining Co. (Maaden) completed the issuance of $1.25 billion in USD-denominated sukuk, offered in a five-year tranche and a 10-year tranche, according to a statement to Tadawul.
Settlement is scheduled for Feb. 13, the statement added.
Below are details of the sukuk issuance:
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Sukuk Issuance Details |
|
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Issuance Type |
USD-denominated sukuk |
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Offer Value |
A five-year tranche: $750 mln |
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A 10-year tranche: $500 mln |
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No. of Sukuk |
A five-year tranche: 3,750 based on the minimum denomination and total issue size |
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A 10-year tranche: 2,500 based on the minimum denomination and total issue size |
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Par Value |
$200,000 |
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Return |
A five-year tranche: 5.25% annually |
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A 10-year tranche: 5.50% annually |
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Maturity Period |
A five-year tranche: 5 years |
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A 10-year tranche: 10 years |
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Redemption Conditions |
Sukuk may be redeemed before the scheduled maturity date under certain conditions as detailed in the offering circular. |
The sukuk will be listed on the International Securities Market of the London Stock Exchange. They may only be sold as per Regulation S under the US Securities Act of 1933, as amended.
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