Saudi’s Bahri Issues SAR 3.9 Billion SAR-denominated Sukuk  

Saudi’s Bahri Issues SAR 3.9 Billion SAR-denominated Sukuk  

https://islamicmarkets.com/articles/saudi-s-bahri-issues-sar-3-9-billion-sar-denominated-sukuk
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Bahri, formerly known as the National Shipping Company of Saudi Arabia (NSCSA), has begun the issuance of Sukuk denominated in Saudi Riyal, totalling SAR 3.9 billion (USD 1.04 billion).

Why it Matters?

Proceeds from the issuance will be used to refinance the company's existing Sukuk, expected to mature in July 2022. The offering began on the 16th of June 2022 and is set to end on the 21st of July 2022.

Details

The selected lead managers and book runners for the offering are Al Rajhi Capital, HSBC Saudi Arabia, and SNB Capital Company. Established in 1978 by a royal decree, Bahri operates a fleet of 93 tankers and container ships that transport oil, petrochemicals, and other types of cargo across 150 ports worldwide....