One of Saudi German Health's hospitals
Middle East Healthcare Co. (Saudi German Health) announced the start of subscription by individuals and institutions to its SAR-denominated sukuk issuance.
The issuance was initially valued at SAR 1 billion. The final value will be set after the offering, based on market conditions, Saudi German Health said in a statement to Tadawul.
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Sukuk Issuance Details |
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Issuance Type |
SAR-denominated sukuk |
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Issuance Value |
Initially valued at SAR 1 billion. The final value will be set after the offering, based on market conditions |
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Offering Start Date |
Feb. 12 |
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Offering End Date |
Feb. 25 |
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Target Class of Issuance |
Eligible natural and legal persons in Saudi Arabia and any other relevant jurisdiction where the sukuk may be lawfully offered |
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Issuance Lead Manager |
Al Rajhi Capital as financial advisor, lead manager and dealer in relation the offering and issuance of the sukuk |
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Minimum Subscription Limit |
Five sukuk with a nominal value of SAR 5,000 |
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Offering Price |
SAR 1,000 per Sak |
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Nominal Value |
SAR 1,000 per Sak |
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Return |
An annual fixed rate of 7.20% payable quarterly |
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Maturity |
Five years |
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Redemption Terms |
The sukuk may be redeemed in certain cases, before the maturity date as detailed in the base prospectus |
Saudi German Health announced in January the prospectus for the sukuk program, for SAR 1.5 billion, Argaam earlier reported.
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