Saudi Telecom lists $1.25bn debut sukuk on Euronext Dublin
Saudi Telecom , through its subsidiary STC Sukuk Company Limited (the “issuer”), has listed a $1.25bn sukuk* on Euronext Dublin. The US dollar-denominated sukuk is the first issuance from the issuer’s $5bn Trust Certificate Issuance Programme set up earlier this year and has a 3.89% annual return.
About Saudi Telecom
Saudi Telecom is a Saudi Arabia-based telecommunications company that offers landline, mobile, Internet services, and computer networks.
Saudi Telecom is 70% owned by Saudi Arabia’s Public Investment Fund.
Euronext Dublin is the European listing venue of choice for Saudi issuers
Other Saudi issuers choosing our markets include the Kingdom of Saudi Arabia, Almarai, Saudi Electricity, and SABIC Capital.
Euronext has over 40,000 bonds listed representing 90 countries around the world and is ranked the #1 stock exchange for bond listings worldwide. Euronext Dublin, which is the centre of excellence for listing debt & funds and ETFs within Euronext Group offers two markets for listing debt, Euronext Dublin and the Global Exchange Market.
Learn More
- To learn more about lisitng debt on Euronext Dublin, contact James Johnston on Johnston@euronext.com or +353 1 6174203.
*A sukuk is the Islamic equivalent of a bond. However, unlike a Western bond, which confers ownership of a debt only, Sukuk grants the investor a share of an asset, along with the commensurate cash flows and risk. As such, sukuk securities are in compliance with Islamic laws. They are also sometimes referred to as “sharia-compliant” bonds.
