Advanced Petrochemical raises a billion riyal from 5-yr sukuk

18/11/2014 Argaam

The Advanced Petrochemical Company sold a billion riyal Islamic bonds (sukuk) with a bid to finance expansion plans, a filing to Tadawul said.
 

The five-year private placement was 240 percent oversubscribed with total applications worth SAR 2.43 billion, with a variable return payable every six months.
 

The company said the proceeds will finance its strategic plans.

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