Najran Cement plans to issue Riyal-denominated Sukuk

07/05/2015 Argaam

Najran Cement Co. plans to meet prospective investors on Sunday for the issuance of Riyal-denominated Sukuk, it said in a statement to Tadawul.

 

The company has appointed Saudi Fransi Capital as the sole lead manager.

 

Proceeds will be used towards general corporate expenses and debt refinancing, it added.

 

Najran said the value and tenor of the Sukuk will be disclosed in due time.

 

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