Transaction to create an entity with combined assets of over $75bln
The sale of the sukuk, held January 21, was more than twice oversubscribed, with orders of over $700mln
The company did not expect such demand on its sukuk, Al Rumaihi said, adding that the sukuk’s yield stood at 4.25%
Fitch understands that the proceeds will be used for general corporate purposes.
The issuer is rated B by S&P and Fitch
The bank accounts reached 1.727mln by the end of December 2019.