Sipchem says to redeem SAR 1.8 bln sukuk on June 15

12/05/2016 Argaam

Saudi International Petrochemical Co. (Sipchem) is planning to redeem sukuk worth SAR 1.8 billion in full on June 15, the company said in a statement to Tadawul.

 

Available cash will be used to redeem the five-year sukuk, which is due to mature on July 6.

 

The company added that the early redemption will not result in any material financial impact.

 

Sukuk holders will be notified of the redemption, which is included in previously-announced terms. 

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