Saudi Basic Industries Corp (SABIC) has completed the issuance of two billion dollars worth of international bonds, the Saudi petrochemicals major said on Wednesday.
The bonds, issued by Netherlands-based SABIC Capital II BV, are senior notes unsecured by assets, SABIC said in a filing to the Saudi Stock Exchange or Tadawul.
A total of 10,000 bonds, or sukuk, were issued with par value of $200,000 each, issued to institutional investors.
The Bonds will be issued in accordance with the Rule 144A/Reg S offering requirements under the US Securities Act of 1933G, as amended.
The stabilization rules of the Financial Conduct Authority (FCA) and the International Capital Market Association (ICMA) will also apply to the issuance.
The bonds will be listed on the Irish Stock Exchange (Euronext Dublin).
