Riyadh – Mubasher: Saudi Basic Industries Corporation (SABIC) on Tuesday has said that its subsidiary SABIC Capital II B.V. started issuing dollar-denominated bonds which will be unsecured by assets.

The issue will start on Tuesday, 2 October and end on Wednesday, 3 October, while its value will be specified subject to the market conditions, according to a statement to the Saudi Stock Exchange (Tadawul).

The minimum value of subscription will be $2,000, while integral multiples will not exceed $1,000,  the world's fourth-biggest petrochemicals company noted.

BNP Paribas, Citigroup Global Markets Limited, HSBC Bank plc, Mitsubishi UFG Securities EMEA plc, and Standard Chartered Bank will be the lead managers of the issue.

The listing prices of bonds, par value, and returns will be specified subject to market conditions, while their maturity period will be between five and ten years, the statement added.