Al Naqool completes early SAR-denominated Sukuk repayment

Logo of Mohammed Hassan Al-Naqool Sons Co.

Mohammed Hassan Al-Naqool Sons Co. completed the early repayment of SAR-denominated Sukuk worth SAR 10 million today, Dec. 23, ahead of the original maturity date of May 9, 2025.

In a statement on Tadawul, the company said the early redemption aims to reduce financing costs and conclude the funding purpose.

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The repayment, financed through internal resources, will lower financial liabilities and future financing burdens, Al Naqool added.

The company launched SAR-denominated Murabaha sukuk under its Murabaha Sukuk Program in February 2023, valued at SAR 10 million, according to Argaam’s data.