Arab News, Wednesday, Jul 06, 2022 | Zul Hijjah 7, 1443
Saudi-listed shipping firm Bahri closes $1.04bn sukuk issuance
Saudi Arabia:
National Shipping Co. of Saudi Arabia, better known as Bahri, has completed the
issuance of SR3.9 billion ($1.04 billion) sukuk, denominated in Saudi Riyals and
maturing in seven years.
The offering, led by Al Rajhi Capital, HSBC Saudi
Arabia, and SNB Capital, started by mid-June, and the settlement was done on
July 5, the firm said in a bourse filing.
The Saudi-listed company earlier said it will use
proceeds to refinance the existing sukuk which will mature this month.
Bahri is a joint venture between Saudi Aramco and
the Public Investment Fund, operating a fleet of 89 tankers and container ships
that transport oil, petrochemicals, and other types of cargo.