Petrochem successfully launches SAR 1.2bn Islamic Sukuk

23/06/2014 Argaam

National Petrochemical Company (Petrochem) successfully completed the issuance of SAR 1.2bn Islamic Sukuk; the company said in its filing to Tadawul today.

The issuance has a tenor of 5 years and carries a yield of 6 months SIBOR + 1.7%.

According to Argaam’s data; Petrochem has recently hired Riyad Capital and Deutsche Securities to arrange its sukuk issue.

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