Savola Group completes SAR1.0bn Sukuk issue

RIYADH: The Savola Group Company has announced that it has completed the SAR 1.0 billion Sukuk denominated in Saudi Arabian Riyals (SAR) offered by way of private placement. The 7-year Sukuk offers a return of 6-months + 160bps.

Savola has appointed HSBC Saudi Arabia to manage Sukuk offer including the redemption process and the participation of the holders of the redeemed Sukuk in the issuance.

It’s worth mentioning the subscription requestshas exceeded the issuance value by more than 1.6 times.

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