Middle East Economic Survey
VOL. LII
No 47
23-Nov-2009
SAUDI ARABIA
Saad Group Misses Scheduled Bond Payment
Saudi Arabias Saad Group said on 15 November that it has missed a scheduled payment for its $650mn Islamic bond, the Golden Belt-1 sukuk. Payments on the sukuk are made bi-annually, with the previous payment in May having been made successfully. We invite the certificate holders to refrain from proceeding with any legal action, read a statement by Saad Trading Contracting & Financial...
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