Middle East Economic Survey

VOL. L

No 31

30-July-2007

SAUDI ARABIA

SABIC Sukuk Oversubscribed; Conventional Bond Continues Roadshow

Saudi Basic Industries Corporations (SABIC) second sukuk offering (SABIC Sukuk II), worth SR8bn ($2.1bn), was oversubscribed and attracted orders of around SR10bn ($2.7bn), MEES learns. The strong response increases the likelihood that SABIC will issue the SR8bn maximum approved by the Capital Markets Authority (CMA MEES, 23 July), which will make it the largest...