“Maaden” intends to issue dollar-denominated sukuks
The Saudi Arabian Mining Company intends to… "Minerals" Issuing sukuks denominated in US dollars under its international sukuk issuance program, which was established on February 4, 2025.
The company said in a statement on its website: "Saudi Arabia trading"This is based on the decision of the Board of Directors dated 06/17/1446 AH (corresponding to 12/18/2024 AD), and the decision of the Extraordinary General Assembly held on 04/08/1446 AH (corresponding to 02/03/2025 AD). This issuance was approved in accordance with the Board of Directors’ decision dated 06/24/1447 AH (corresponding to 12/15/2025 AD).
It noted the offering of the Sukuk to qualified investors inside and outside the Kingdom of Saudi Arabia.
Ma’aden appointed: (a) Al-Bilad Investment Company, Al-Jazira Financial Markets Company, Arab Banking Corporation B.S.C., Bank of China Limited Hong Kong Branch, BNP Barbia, Citigroup Global Markets Limited, and Goldman Sachs International. HSBC Bank (PLC), JP Morgan Securities (PLC), Kuwait Finance House Capital Investment Company K.S.C. (Closed), Merrill Lynch International, Mizuho International (PLC), Natixis, and NCB Capital as lead managers regarding the potential offering of the Sukuks.
According to the statement, the value and terms of the Sukuk offering will be determined based on market conditions.
