JP Morgan, Standard Chartered, and the National Commercial Bank of Saudi Arabia are lead arrangers for a sukuk to be issued by STC, the Saudi telco, according to Reuters.
Referring to three unnamed sources, the news service reported the sukuk could be…
JP Morgan, Standard Chartered, and the National Commercial Bank of Saudi Arabia are lead arrangers for a sukuk to be issued by STC, the Saudi telco, according to Reuters.
Referring to three unnamed sources, the news service reported the sukuk could be issued in the Saudi market, or be US dollar denominated and be sold internationally.
STC declined to comment to Reuters and did not immediately reply to a request for comment by TelecomFinance.
Shareholders of the telco gave the green light to a national or international bond issue at a meeting in early April.
