AI Summary
stc said that the sukuk will be listed on the International Securities Market of the London Stock Exchange
Saudi telecom giant stc announced the completion of USD-denominated international trust certificates (sukuk) worth $2 billion in two tranches, according to a Tadawul statement.
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Issuance Details |
|
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Type |
US dollar-denominated sukuk |
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Offering Amount |
1st tranche: $750 mln 2nd tranche: $1.25 bln |
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Total Number of Sukuk |
1st tranche: 3,750 2nd tranche: 6,250 |
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Nominal Value |
$200,000 |
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Return |
1st tranche: 4.489% 2nd tranche: 5.083% |
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Maturity |
1st tranche: 5 years 2nd tranche: 10 years |
|
Terms of Redemption |
May be redeemed under certain conditions, as specified in the sukuk issuance prospectus |
The sukuk will be listed on the International Securities Market of the London Stock Exchange, the company said.
The sukuk was issued in accordance with Rule 144A/Reg S offering requirements under the US Securities Act of 1933, as amended.
According to data available with Argaam, stc recently announced the start of issuing USD-denominated sukuk under its international sukuk issuance program of up to $5 billion, through a special purpose vehicle (SPV) to be established outside Saudi Arabia.
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