Saudi Telecom Company (STC) [7010.SE] said it intends to establish an international sukuk programme with a total amount not exceeding USD5bn. The issuance will be made in one or more tranches, through one or a series of issues, and by way of a private placement or a public offering. The programme will aim to support the company’s strategy and future plans, diversify its sources of funding, and help it benefit from the features of international debt capital market, according to a company statement. The issuance is subject to regulatory and EGM approvals. (Tadawul)
Saudi Telecom Company: SAR106.00 as of 20 Mar. 2019, Rating: Neutral, TP: SAR92.50/share, MCap: USD56,533mn, STC AB/7010.SE
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