One of Bahri’s carriers
National Shipping Company of Saudi Arabia (Bahri) starts today, June 16, the issuance of SAR-denominated sukuk in a private placement, the company said in a bourse statement.
The issuance value could reach SAR 3.9 billion, as the amount and terms of the sukuk issuance will be determined based on market conditions.
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Sukuk Issuance Details |
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Offer Type |
SAR-denominated sukuk |
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Offer Value |
Up to SAR 3.9 billion, as the amount and terms of the sukuk issuance will be determined based on market conditions. |
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Start Date |
June 16, 2022 |
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End Date |
July 21, 2022 |
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Target Class |
Institutional and qualified clients as defined by the Capital Market Authority’s (CMA) regulations |
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Minimum Subscription Limit |
SAR 1 mln |
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Offer Price |
Subject to market conditions |
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Par Value |
SAR 1 mln |
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Sukuk Return |
Subject to market conditions |
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Maturity |
7 years, subject to market conditions |
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Terms of Redemption |
Sukuk may be redeemed by the bank in certain cases as detailed in the offering Prospectus |
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Lead Managers/Bookrunners |
Al Rajhi Capital, HSBC Saudi Arabia, and SNB Capital |
The company will announce any relevant developments in due course, noting that the announcement is subject to the terms and conditions of the sukuk.
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