Saudi German Health issues prospectus for SAR 1.5B sukuk sale

One of Saudi German Health's hospitals

Middle East Healthcare Co. (Saudi German Health) issued the prospectus for its sukuk sale worth SAR 1.5 billion.

In August 2023, the company's extraordinary general meeting (EGM) approved issuing sukuk through one or multiple programs created for the issuance purpose or on a standalone basis through public or private offerings, Argaam earlier reported.

On Dec. 4, 2023, the CMA approved the healthcare services provider's request for the registration and public offering of debt instruments as part of a program worth up to SAR 1.5 billion.

The sukuk, according to the prospectus, will be offered to the qualified natural and legal persons in the Kingdom and any other relevant country.

Each offer period for the relevant tranche will be specified in the applicable final terms. The relevant tranche will be allocated after the end of the applicable offer period and issued on a date notified by the issuer and the relevant dealer to the respective prospective investors after the end of the relevant offer period.

The sukuk will be in a registered form in a specified denomination of SAR 1,000. The aggregate nominal value of each tranche will be outlined in the applicable final terms.

Meanwhile, the minimum number for subscription is five sukuk for each tranche to be issued under the program.

 Al Rajhi Capital was appointed as the sukukholders’ agent, financial advisor, sole arranger, and dealer.