Home / Knowledge / News / Textiles / SABIC Sukuk to be available to eligible GCC investors
SABIC Sukuk to be available to eligible GCC investors
30
Apr '08
The Saudi Basic Industries Corporation (SABIC), after having obtained the Saudi Capital Market Authority approvals yesterday, will embark on issuing its third Shariah Compliant Sukuk.

The road-show will commence on May 3, 2008 and will last for 10 business days. The Sukuk issue is denominated in Saudi Riyals.

The Sukuk will be available to eligible GCC investors and will be subject to a minimum holding of SAR 10,000 (USD2670).

SABIC has mandated HSBC Saudi Arabia Limited and Calyon Saudi Fransi Limited as joint lead managers and book runners to the issue of Sukuk, which features a Sukuk structure approved by SABB Amanah's Shariah Supervisory Committee.

The Sukuk offering is expected to be subscribed principally by institutional investors, consisting of banks and financial institutions, fund asset managers, pension funds and insurance companies and other respective establishments and companies. Individuals are also eligible to purchase the Sukuk in accordance with the established terms and conditions.

The Sukuk issuance reflects SABIC's wish to diversify its funding resources and its commitment to the development of the capital markets in the Kingdom of Saudi Arabia, complementing the equity markets and benefiting the country's wider economy.

SABIC had successfully launched its debut and second issue of Sukuk in July 2006 and August 2007 respectively. Standard & Poor's Rating Services has assigned an (A+) local currencysenior unsecured issue rating for the Sukuk I and Sukuk II of SABIC.

Further details on the third Sukuk issue including the subscription application form and offering circular, are available on the SABIC website.

Saudi Basic Industries Corporation


Must ReadView All

Courtesy: ITMA 2015

Textiles | On 21st Jun 2018

Italy to host textile machinery fair ITMA in 2023

ITMA, the trendsetting textile and garment technology platform, will...

Courtesy: Connor Group

Textiles | On 21st Jun 2018

Protectionism top threat to textile sourcing: William Connor

Protectionism is the biggest political factor and threat affecting...

NRF urges US Congress to step in, stop trade war

Apparel/Garments | On 21st Jun 2018

NRF urges US Congress to step in, stop trade war

The National Retail Federation (NRF) recently urged the US Congress...

Interviews View All

Top executives
Textile industry

Union budget 2018-19 will have positive impact on apparel industry

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Top executives
Textile industry

Knowledge sharing platform needed for sustainable water management

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search