Najran Cement Company Fully Redeems SAR 355 Million Sukuk at Nominal Value

Najran Cement Company (NCC) has fully redeemed SAR 355 million of Sukuk outstanding on the 11th of June 2020. 

According to local media reports, SAR 355 million was outstanding from the SAR 400 million Sukuk issued on the 14th of June 2015. According to the Islamic Markets Sukuk Monitor, NCC issued SAR 400 million Sukuk, for a period of 5 years, and matured on the 11th of June 2020.

On the 12th of December 2019, NCC repurchased SAR 45 million of this SAR 400 million Sukuk, financed from the company’s internal resources. Accordingly, the value of outstanding Sukuk due for repayment in June 2020 was SAR 355 million.

It was also reported earli...