SAL completes SAR 1B in sukuk offering

A SAL Saudi Logistics Services Co.’s facility

SAL Saudi Logistics Services Co. (SAL) announced the completion of SAR-denominated sukuk issuance, with a total value of SAR 1 billion, according to a statement to Tadawul.

 

Issue Highlights

Type

SAR-denominated sukuk in a private placement

Offering Value

SAR 1 bIn

No. of Offered Sukuk

1,000

Nominal Value

SAR 1 mln

Return

6-month SAIBOR + 130 basis points as a floating rate, payable semi-annually

Maturity

5 years, with the possibility of early redemption as detailed in the base prospectus and the applicable final terms of the sukuk

Terms of Redemption

The company may redeem the sukuk before maturity in certain cases, as specified in the base prospectus and the applicable final terms
 

The sukuk issuance was settled on Jan. 28, with the company confirming that it will continue to complete all necessary procedures for issuing and allocating the sukuk to investors, the statement added.

 

According to data available with Argaam, SAL launched a SAR-denominated sukuk issuance earlier this month, under its SAR sukuk issuance program

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