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Sipchem to redeem SAR 1.8bn Sukuk

Sipchem to redeem SAR 1.8bn Sukuk
The Sukuk issuance was done in 2011 for a five-year period
AMANA INSURANCE
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Riyadh – Mubasher: Saudi International Petrochemical “Sipchem” on Thursday said it was planning an early redemption of its SAR 1.8 billion Sukuk on 15 June 2016.

The Sukuk issuance was done in 2011 for a five-year period ending on 6 July 2016, the company said in a bourse filing, adding that it will carry out the redemption ahead of schedule using available cash.

The redemption will not have any material effects, it added.