Addendum Announcement From Bahri In Relation To The Local Public Offering Issuance Of Sukuk Denominated In Saudi Riyal
 

http://www.bahri.sa/Images/logo.aspx...t=129&ext=.png




30 July 2015
Subsequent to The National Shipping Company of Saudi Arabia (Bahri) announcement on Tadawul ***site on 7 June 2015 relating to the latest developments in its public offering of local Sukuk denominated in Saudi Riyals, Bahri announces that on 30 July 2015 it has successfully completed the Sukuk issuance and offer it under a public offering at a total nominal value of (SAR 3,900,000,000) three billion nine hundred million Saudi riyals noting that the nominal value of a single Sak is (SAR 1,000,000) one million Saudi riyals, maturing in July of 2022. Noting that the value of the received sub******ion applications exceeded the total nominal value of the issuance and the issuance was confined to companies and investment authorities. The expected return on the Sukuk has been set at 80 bps above the SIBOR rate as per the details published in the prospectus related to this Sukuk issuance and is available for the general public on the Capital Market Authority ***site (CMA.org.sa) and the company ***site (bahri.sa). It is worth highlighting that the Sukuk will be registered and traded on the electronic data**** of the Sukuk and Bonds of the Saudi Stock Exchange after receiving the required approvals. Bahri Chief Executive Officer Engineer. Ibrahim Al Omar explained that the proceeds of the issued Sukuk will be used to repay the Murabaha bridge financing signed and announced on Tadawul ***site on 22 June 2014 and the remaining proceeds shall be used for general corporate purposes. Al Omar stressed that Bahri's success in issuing and have a full sub******ion to these Sukuk reflects the strong financial and credit position of the company. He also expressed his gratitude and appreciation to everyone involved in the success of the issuance process including the related governmental authorities alongside the Sukuk investors for their belief in Bahri.