Saudi Telecom begins Sukuk investor meetings as part of SAR5 billion sukuk base programme

Saudi Telecom Company has begun investor meetings as it commences its SAR5 billion sukuk base programme. The initial sukuk will be for value of between 1 billion to 1.5 billion Saudi Riyals according to a person with knowledge of the deal, with the exact amount to be determined by current market appetite. The deal will be fulfilled in a private placement with the majority of investors being domestic.

STC have appointed Standard Chartered Capital Saudi Arabian NCB Capital and JP Morgan Saudi Arabia Ltd as managers.