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Saudi Arabia’s National Gas & Industrialization Co. (GASCO) is set to purchase additional sustainable first tranche capital dollar-denominated sukuk issued by the Saudi Investment Bank (SAIB), amounting to $10 million.
The transaction will take place on November 27.
The sukuk has an expected annual return of 6.375%, non-traded, and a term of 5.5 years.
The dividend distribution will be semi-annual, with GASCO saying the financial impact of this investment is expected to start from the second quarter of 2025.
The transaction will be carried out in accordance with the investment policy in the company and does not grant any preferential benefits.
The purchase will be presented at the next general assembly to obtain the approval in accordance with the relevant laws and regulations.
(Writing by Bindu Rai, editing by Daniel Luiz)
