Please wait...
GulfBase Live Support
Leave a message and our representative will contact you soon
- Aramco CEO among business leaders urged by China's Xi to protect trade as Trump tariffs loom
- Oil Updates - crude set to rise for 3rd week on Venezuela, Iran pressure
- M&A deals in Saudi Arabia rise in sign of foreign investor confidence: Marsh
- Saudi maritime industry spurring global trade shift
- Saudi Crown Prince issues directives to curb rising land prices and rents in Riyadh
- Closing Bell: Saudi main index closes in green at 12,025
- Saudi Arabia's job market strengthens as unemployment falls to 7% in Q4 2024
- UAE unveils new dirham symbol and digital currency
- Oil Updates - crude holds near 1-month high, set for 3rd week of gains amid supply woes
- Qatar Islamic Insurance Group AGM proposes cash dividend of 50% of paid-up capital
24/01/2018 17:51 AST
Ma'aden Phosphate Co (MPC), a subsidiary of Saudi Arabian Mining Co (Ma'aden), has hired banks to arrange a riyal-denominated sukuk issue, according to documents seen by Reuters, including the sukuk prospectus.
The company, which owns and operates one of the largest phosphate fertiliser plants in the world, plans to launch the deal in the first week of February, depending on investors' interest.
According to a source close to the matter, the sukuk will be in the 4 billion riyal ($1.1 billion) region.
BNP Paribas Investment Co KSA, HSBC Saudi Arabia and NCB Capital are lead-managing the deal, with NCB coordinating it. The Islamic bonds, with a hybrid mudaraba and murabaha structure, will have a seven-year tenor.
A spokesman at Ma'aden did not immediately respond to a request for comment.
MPC is a joint venture between Ma'aden, which owns 70 percent, and petrochemical producer Saudi Basic Industries Corp (SABIC), which owns the remaining 30 percent.
The company will use the sukuk proceeds for general corporate purposes including repayment of existing sharia-compliant financial obligations.
MPC borrowed $4 billion in project finance facilities in 2010 as part of some $5.5 billion in project costs for its facilities. It repaid around $1 billion between 2013 and 2015, and in early 2016 the company refinanced the existing debt with a $3 billion unsecured Islamic loan.
Its current outstanding debt stands at $2.7 billion, according to a presentation by the company.
Reuters
08/03/2025
Saudi Arabian Mining Co. (Ma'aden), the Middle East's largest multi-commodity mining company, reported a net profit of SAR2.87 billion ($765 million) for the fourth quarter and full year 2024, up 82%
Asharq Al Awsat
21/11/2017
The Ma'aden Phosphate Company (MPC), an affiliate of Ma'aden, has been awarded the "Protect and Sustain Certification" from the International Fertilizer Association (IFA). The certificate was present
Saudi Gazette
27/10/2017
Zamil Industrial Investment Company (Zamil Industrial) has announced its consolidated interim financial results for the period ending 30 September 2017.
Revenues for the third quarter of 2017
Press Release
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| SABIC | 63.70 | -0.30 (-0.47 |
| SABICAGRINUTRIENTS | 106.00 | 1.00 (0.95 |
| MARBLEDESIGN | 75.00 | 0.00 (0.00 |
| LIMEINDUSTRIES | 14.00 | 0.80 (6.06 |
| APICO | 53.00 | 0.70 (1.33 |
29/03/2025
China's President Xi Jinping urged a gathering of multinational CEOs on Friday to protect global industry and supply chains, as Beijing seeks to assuage foreign firms' concerns over the Chinese econo
Reuters
28/03/2025
Qatar Islamic Insurance Group convened its Annual General Assembly Meeting for the year 2024, yesterday. The Board proposed to the assembly distribution of cash dividends of 50% of the paid-up capita
The Peninsula
28/03/2025
Sabic, a global leader in diversified chemicals, today (Martch 27) reaffirmed its advocacy for sustainable growth through innovation and collaboration at the Boao Forum for Asia (BFA)'s Annual Confer
Trade Arabia
28/03/2025
AD Ports, a leading facilitator of global trade, logistics, and industry, has announced the signing of a 50- year agreement with Oylz Terminals, a UAE based oil supply and distribution provider to de
Trade Arabia
28/03/2025
Modon Holding, an Abu Dhabi-based holding company, and Elsewedy Industrial Development, one of Egypt's leading integrated industrial and logistics cities developers, have signed a letter of intent (L
Trade Arabia
Financial Information Co.
P.O. Box 69410, Jeddah 11547, Saudi Arabia