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Saudi German Hospital commences SAR-denominated Sukuk offering

Saudi German Hospital commences SAR-denominated Sukuk offering
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Riyadh – Mubasher: Middle East Healthcare Company (Saudi German Hospital) started the offering of its SAR-denominated Sukuk at a par value of SAR 1,000 on 12 February.

The offering will end on 25 February 2024, according to a bourse disclosure.

The issuance amount has been determined on an initial basis at SAR 1 billion, while the definitive issuance amount will be determined after the completion of the offer period.

Saudi German Hospital mandated Al Rajhi Capital Company as the financial advisor and lead manager for the offering and issuance.

The yield offered is 7.20% per annum payable quarterly, while the maturity period is five years.

The minimum subscription will stand at five Sukuk with a nominal value of SAR 5,000.

In the first nine months (9M) of 2023, the company logged net profits after Zakat and tax valued at SAR 143.67 million, higher by 241.91% year-on-year (YoY) than SAR 42.02 million.