Riyadh - Mubasher: Saudi Telecom Company (stc) completed offering of its USD-denominated issuance of International Trust Certificates (sukuk) in two tranches, according to a bourse statement.

The first auction was valued at $750 million, while the second one stood at $1.25 billion. Two offerings are maturing in five and 10 years, respectively.

With a par value of $200,000, the sukuk may be redeemed in certain cases as detailed in the offering circular in relation to the Certificates.

Earlier this month, the Saudi telecom group unveiled the offering under its $5 billion international Sukuk program.