Saudi German Health says subscription to sukuk starts, values issuance at SAR 1B

One of Saudi German Health's hospitals

Middle East Healthcare Co. (Saudi German Health) announced the start of subscription by individuals and institutions to its SAR-denominated sukuk issuance.

The issuance was initially valued at SAR 1 billion. The final value will be set after the offering, based on market conditions, Saudi German Health said in a statement to Tadawul.

Sukuk Issuance Details
Issuance Type	SAR-denominated sukuk
Issuance Value	Initially valued at SAR 1 billion. The final value will be set after the offering, based on market conditions
Offering Start Date	Feb. 12
Offering End Date	Feb. 25
Target Class of Issuance	Eligible natural and legal persons in Saudi Arabia and any other relevant jurisdiction where the sukuk may be lawfully offered
Issuance Lead Manager	Al Rajhi Capital as financial advisor, lead manager and dealer in relation the offering and issuance of the sukuk
Minimum Subscription Limit	Five sukuk with a nominal value of SAR 5,000
Offering Price	SAR 1,000 per Sak
Nominal Value	SAR 1,000 per Sak
Return	An annual fixed rate of 7.20% payable quarterly
Maturity	Five years
Redemption Terms	The sukuk may be redeemed in certain cases, before the maturity date as detailed in the base prospectus

Saudi German Health announced in January the prospectus for the sukuk program, for SAR 1.5 billion, Argaam earlier reported.

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