Jabal Omar fully redeems November 2018 Sukuk

26/11/2023 Argaam

Jabal Omar fully redeems November 2018 Sukuk

Logo of Jabal Omar Development Co.

Jabal Omar Development Co. announced the full and final redemption of the second and final tranche of its Sukuk, which bears an aggregate face value of $135 million (SAR 506.3 million).

 

In a statement to Tadawul, the developer said it redeemed 337.5 Sukuk, or 50% of the total issue, for a total of $67.5 million (SAR 253.2 million), or $200,000 per sakk (SAR 750,000).

 

The Sukuk were issued on Nov. 15, 2018 and were trading until Nov. 15, 2023.

 

The paying agent is HSBC, the company said, adding that the redemption value was deposited in eligible investors’ accounts until Nov. 24, 2023.

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