Saudi German Health says subscription to sukuk starts, values issuance at SAR 1B
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.