A Bahri carrier
The National Shipping Company of Saudi Arabia (Bahri) announced the full redemption of sukuk worth SAR 3.9 billion, due on July 30, 2022, according to a bourse filing.
The payment process was funded through sukuk refinance with the same amount and whose completion was announced on July 6.
This transaction will likely reflect on financials of Q3, 2022, the statement added.
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Sukuk Issuance Details |
|
|
Offer Type |
SAR-denominated sukuk by private placement offer |
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Offer Value |
SAR 3.9 billion |
|
Total Numbers |
3,900 (based on the minimum denomination and total issue size) |
|
Par Value |
SAR 1 mln |
|
Returns |
Six months Saudi Arabian Interbank Offered Rate (SAIBOR) + 1.20% as mentioned in the sukuk’s offering circular |
|
Maturity |
7 years |
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Terms of Redemption |
Sukuk shall be redeemed on the maturity date. It may be redeemed prior to the scheduled maturity date in certain cases as detailed in the offering circular |
Bahri recently announced that it completed the issuance of SAR-denominated sukuk worth SAR 3.9 billion, according to data available with Argaam.
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