Wednesday, June 22, 2011

SIPCHEM to raise up to SR 2 bln from a sukuk to fund plant expansions

Saudi International Petrochemical Co (Sipchem) expects to raise up to 2 bln riyals (US$533.3 mln) from a planned Islamic bond offering to fund plant expansions, as per Reuters. Deutsche Securities, thhe securities arm of Deutsche Bank, and Riyad Capital were appointed as joint lead managers for the sukuk.

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