The Saudi Basic Industries Corporation (SABIC) is pleased to announce that it has obtained the Saudi Capital Market Authority approvals and has begun to issue its second Shariah Compliant Sukuk on July 11, 2007. The Sukuk issuance will be available to the investors in the GCC. The Sukuk will be issued in denominations of SAR 10,000 and will be subject to a minimum holding of SAR 50,000.
SABIC has mandated HSBC Saudi Arabia Limited and Riyad Bank as Lead Managers and Book runners for the Sukuk issuance, which features a Sukuk structure approved by SABB Amanah’s Shariah Supervisory Committee. The investor presentation period will continue until July 25, 2007.