Maaden’s unit reaches full redemption of SAR 3.5B sukuk

19/02/2025 Argaam
Saudi Arabian Mining Co. (Maaden)headquarters

Saudi Arabian Mining Co. (Maaden) headquarters

Saudi Arabian Mining Co.’s (Maaden) subsidiary, Maaden Phosphate Co. (MPC), has fully redeemed its Shariah-compliant sukuk worth SAR 3.5 billion.

 

As many as 3,500 sukuk/bonds were redeemed under the issuance, Maaden said in a statement to Tadawul today, Feb. 19, adding it reached a 100% redemption rate.

 

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The sukuk issuance was launched on Feb. 20, 2018. The due amounts will be deposited into sukuk holders’ accounts today.

 

The related financial impact will appear in Maaden’s financial results of Q1 2025.

 

In February 2018, Maaden announced that MPC has finalized the necessary procedures for its SAR 3.5 billion ($933.3 million) Shariah-compliant sukuk offering, data available with Argaam showed.

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