Incumbent Saudi Telecom Company (STC) has set up a sukuk issuance programme to draw a maximum SR5bn (US$1.33bn).
The Islamic bonds will be issued by way of a local private placement, the company said in a stock exchange announcement.
JP Morgan,…
Incumbent Saudi Telecom Company (STC) has set up a sukuk issuance programme to draw a maximum SR5bn (US$1.33bn).
The Islamic bonds will be issued by way of a local private placement, the company said in a stock exchange announcement.
JP Morgan, Standard Chartered and the National Commercial Bank have been picked to arrange the programme.
STC recently sold its Indonesian mobile operator Axis to competitor XL Axiata in a US$865m deal.
