Riyadh – Mubasher: The Saudi Basic Industries Corporation (SABIC) said that its subsidiary SABIC Capital II B.V. has completed the issuance of dollar-denominated bonds at a value of $2 billion.

SABIC Capital II B.V. issued 10,000 sukuk, with a par value of $200,000 each, the company said in a statement to the Saudi Stock Exchange (Tadawul), adding that the bonds were unsecured by assets.

With a maturity period between five and ten years, the yield on the issuance will be 4% for bonds that mature in five years and 4.5% for the those due in 10 years.

“The Bonds will be issued in accordance with the Rule 144A/Reg S offering requirements under the U.S. Securities Act of 1933G, as amended,” the statement added.

On Tuesday, SABIC stated that its unit would start issuing dollar-denominated bonds.

By 10:07 am Saudi time, SABIC’s stock inched up 0.16% to SAR 126.