AI Summary
Logo of Advance International Company for Communication and Information Technology (AICTEC)
Advance International Company for Communication and Information Technology (AICTEC) announced the completion of the offering and subscription of SAR-denominated Murabaha sukuk, according to a statement to Tadawul.
The sukuk issue was completed through Dinar Investment Co.’s platform, following the approval of the Capital Market Authority (CMA) on the company’s request to register and offer the sukuk under the program.
Through the offer, AICTEC seeks to strengthen its working capital and support capital expansions.
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Details of Sukuk Issue |
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Offering type |
SAR-denominated Murabaha sukuk |
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Value |
SAR 6 million |
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Number of Sukuk |
6,000 |
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Nominal Value |
SAR 1,000 |
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Yield |
3 months (12.76%)
6 months (12.96%)
9 months (13.16%)
12 months (13.38%)
15 months (13.68%)
18 months (14%)
21 months (14.32%)
24 months (14.64%)
27 months (14.96%)
30 months (15.28%)
33 months (15.60%)
36 months (15.96%) |
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Maturity |
Depends on issue periods—starting from 3 months up to 36 months |
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Terms of Redemption |
In the event of early redemption and extinguishment of the sukuk before the scheduled maturity date at the issuer’s request, the return due to sukukholders will be recalculated based on the actual redemption date and in accordance with the terms and conditions of the issuance and the relevant agreements. |
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