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KFH Capital arranges 1st sukuk transaction for STC

KFH Capital arranges 1st sukuk transaction for STC
The issue comes along with the company’s $5 billion sukuk programme

Mubasher: Kuwait's KFH Capital has finalised the arrangement of its first sukuk issue transaction for the Saudi Telecom Company (STC), valued at $1.25 billion.

Abdullah Sulaiman Al Haddad, chief investment banking officer of KFH Capital, said that the ten-year transaction has a return of 3.89%.

He added that the issue comes along with the company’s $5 billion sukuk programme, governed by the Sukuk Issuance Regulation 144 A and Reg. S system of the US Securities Act.

The sukuk issuances are listed on the Irish Stock Exchange (ISE), Al Haddad noted.

“Subscription volume reached 3x the targeted amount, thus reflecting the world’s tremendous trust in Saudi Economy and the company’s capabilities which are rated A1 by Moody’s Rating Agency,” Al Haddad highlighted.