Local investors show faith in Bahri as $1.04 billion sukuk oversubscribed 1.95 times – Arabian Business
- Date: 21-Jul-2022
- Source: Arabian Business
- Sector:Financial Markets
- Country:Saudi Arabia
Local investors show faith in Bahri as $1.04 billion sukuk oversubscribed 1.95 times – Arabian Business
An SAR3.9 billion ($1.04 billion) sukuk issued by Bahri, the National Shipping Company of Saudi Arabia, has been oversubscribed 1.95 times.
Bahri is a joint venture between Saudi Aramco and the Kingdom’s sovereign wealth fund Public Investment Fund (PIF), operating a fleet of 89 tankers and container ships that transport oil, petrochemicals, and other types of cargo.
The company will use the proceeds from the issuance to refinance its existing SAR 3.9 billion sukuk, which is maturing this month.
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