Bahri Completes Issuing Sukuk Denominated in Saudi riyals, worth 3.9 bln

The National Shipping Company of Saudi Arabia “Bahri” announced on Wednesday the end of offering sukuk denominated in Saudi riyals through a private placement, with a value of SR3.9 billion, and its settlement on 05/07/2022.

It indicated that the return (the Sukuk / Bond) is the prevailing interest rate among Saudi banks for a period of 6 months (SIBOR) + 1.20% as detailed in the offering circular in relation to the Sukuk,

The Sukuk shall be redeemed on the maturity date. The Sukuk may be redeemed prior to the scheduled maturity date in certain cases as detailed in the offering circular in relation to the Sukuk. The maturity period (Bonds/Sukuk) is 7 years.

The Company has appointed HSBC Saudi Arabia as Lead Coordinator, and Alrajhi Capital, HSBC Saudi Arabia and SNB Capital Company as Joint Lead Managers.

This announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities and is subject to the terms and conditions of the Sukuk. The Company will announce any other relevant material developments to its shareholders in due course.