Riyadh – Mubasher: National Petrochemical Co (Petrochem) announced it has fully redeemed SAR 1.2 billion ($4.5 billion) sukuk.

The financial impact of the process will be realised in the financial results of the second quarter of 2019, the company said in a statement to the Saudi Stock Exchange (Tadawul) on Sunday.

The total number of redeemed sukuk stood at 1,200 with a nominal value at redemption of SAR 1 million.

In March, Petrochem announced obtaining three-year Sharia-complaint facility at a value of SAR 550 million from Saudi British Bank (SABB).