Middle East Economic Survey

VOL. XLIX

No 27

3-Jul-2006

SAUDI ARABIA

SABIC Ready To Bring Saudi Arabias First Corporate Bond To Market

In the coming two weeks (the exact date has yet to be revealed) Saudi Basic Industries Corporation (SABIC) will bring the kingdoms first corporate bond to market. SABICs plans to tap the debt markets had been revealed back in 2004 (MEES, 13 December 2004). As a first of its kind, work on the sukuk bonds legal and Shari'a structure has taken some time to complete. The...