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Advanced Petrochemical redeems SAR 1bn Sukuk

Advanced Petrochemical redeems SAR 1bn Sukuk
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Riyadh – Mubasher: Advanced Petrochemical Company announced that it has completely redeemed its SAR 1 billion Sukuk on Sunday 17 November, according to a bourse filing.

The company has redeemed 1,000 Islamic bonds (Sukuk) with a par value of SAR 1 million each.

Issued on 17 November 2014, Sukuk matured on Sunday, this its trading was suspended and the respective amounts were deposited into the holders’ bank accounts through HSBC Saudi Arabia.

The financial impact of this transaction will appear in the results for the fourth quarter (Q4) of 2019.