Jul 20 2011 |
more articles from
|
Saudi Binladin closes Second Short Term Sukuk
19 July 2011Saudi Binladin Group ("SBG") has successfully closed its second short term Sukuk, attracting more than SAR 3bn of orders for a SAR 1bn issuance. Books were opened on Saturday 16th of July and were closed in the same day. The privately placed sukuk was offered to Saudi sophisticated investors and issued through SBG Sukuk Co.
Following on from the success of last year's issuance, SBG 's second visit to the short term sukuk market has managed to attract even higher demand than the previous issue allowing for a longer term instrument with tighter pricing. The Sukuk has a maturity of 364 days and pays a profit rate of 2.5% p.a.. The first Sukuk, which was issued in July 2010, matured in April 2011
HSBC Saudi Arabia acted as the sole Lead Manager and Bookrunner for the transaction and also the Payment Administrator and the Sukuk holders' agent while HSBC Amanah acted as the Shariah Advisor. The Saudi British Bank ("SABB") acted as the Security Agent.
With the current low interest rate environment, investors are finding it more challenging to find appropriate investments, and SBG short term Sukuk represents an ideal choice.
-Ends-
Zawya Comment Policy
-
Zawya encourages you to add a comment to this discussion. You agree that when you add content to this discussion your comments will not:
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse. - The content posted on www.zawya.com is created by members of the public. The views expressed are theirs and unless specifically stated are not those of Zawya. Zawya reserves the right to review all comments prior to posting and edit or delete any contribution, but Zawya is not responsible for and can not be held liable for any content posted by members of the public on www.zawya.com.
- Zawya is not responsible for the availability or content of any third party sites that are accessible through www.zawya.com. Any links to third party websites from www.zawya.com do not amount to any endorsement of that site by Zawya and any use of that site by you is at your own risk.
- By submitting your comment, you hereby give Zawya the right, but not the obligation, to post, air, edit, exhibit, telecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comments worldwide, in perpetuity.
Copyright © 2012 Zawya Ltd. All rights reserved. |
provided by www.zawya.com |
Post Your Comment