The Saudi Binladin Sukuk Co. issued the Islamic bond, which was more than 2.5 times oversubscribed, lead manager HSBC Saudi Arabia said in an e-mailed statement today. The sukuk had a zero coupon on a discount-to-maturity basis, the unit of HSBC Holdings Plc said in the statement.
The Saudi Binladin Group will invest 105 million euros ($136 million) to more than quadruple output at a Senegalese oil refinery, Qasim al-Shaikh, the oil and petrochemical unit chief, said May 1. The group is also bidding to develop the first phase of an airport at Medina, home to Islam’s second-holiest site.
Source : Bloomberg