04 July 2006 19:47 [Source: ICIS news]
DUBAI (ICIS news)--Saudi petrochemical major Sabic is set to raise up to Riyal 3bn ($800m/€625m) from the launch of a Sukuk (Islamic bond) following approval from the Saudi Capital Market Authority (SCMA), the company said on Tuesday.
It will be the first Sukuk to be launched in ?xml:namespace>
The minimum value set for each Sukuk is Riyal 50,000, with a minimum subscription of Riyal 500,000 (10 Sukuk per subscriber).
Initially, issuance would be limited to financial institutions and major companies, said Sabic.
Sabic has increasingly begun using Islamic financing techniques for its fundraising. The company recently raised the largest ever Islamic finance tranche in a g
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections