Middle East Healthcare Company (Saudi German Hospital) has completed the issuance of SAR 1 billion Sukuk.

The sukuk was offered at a par value of SAR 1,000 with an annual return of around 7.20% over a five-year maturity, according to a bourse filing.

The company noted that the allocation and settlement of the Sukuk issuance will be on 29 February and 6 March 2024, respectively.

The Sukuk will be listed and traded on the Saudi Exchange (Tadawul).

Saudi German Hospital started the offering of its SAR-denominated Sukuk on 12 February.

In the first nine months (9M) of 2023, the company recorded net profits after Zakat and tax amounting to SAR 143.67 million, marking a significant increase of 241.91% year-on-year (YoY) compared to SAR 42.02 million.

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