Petrochem fully redeems SAR 1.2 bln sukuk

23/06/2019 Argaam

 

National Petrochemical Co. (Petrochem) has fully redeemed SAR 1.2 billion Shariah compliant sukuk, the company said in a bourse statement.

 

The sukuk have a nominal value at redemption of SAR 1 million, the statement added.

 

The instruments were issued on June 23, 2014 and will be suspended from trading in the market starting from June 23, 2019.

 

The process will have a financial impact on Q2 2019 financials, the statement added.

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