By Rebecca Melvin
New York, May 3 – Saudi Telecom Co. priced $1.25 billion in sukuk, or Islamic bonds, with a 10-year maturity and a profit rate of 3.89%, or a yield spread of mid-swaps plus 135 basis points, according to a syndicate source.
HSBC, JPMorgan and Standard Chartered Bank were joint global coordinators and joint bookrunners, together with First Abu Dhabi Bank, KFH Capital and Samba Capital as joint bookrunners for the Regulation S and Rule 144A deal.
The issue priced via trustee STC Sukuk Co. Ltd.
The telecommunications company is based in Riyadh, Saudi Arabia.
| Trustee: | STC Sukuk Co. Ltd.
|
| Obligor: | Saudi Telecom Co.
|
| Amount: | $1.25 billion
|
| Description: | Sukuk
|
| Maturity: | May 13, 2029
|
| Bookrunners: | HSCB, JPMorgan and Standard Chartered Hank (joint global coordinators), with First Abu Dhabi Bank, KFH Capital and Samba Capital
|
| Profit rate: | 3.89%
|
| Price: | Par
|
| Yield: | 3.89%
|
| Spread: | Mid-swaps plus 135 bps
|
| Pricing date: | May 2
|
| Settlement date: | May 9
|
| Distribution: | Rule 144A and Regulation S
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
