Saudi Arabian Mining Co. — Capital/Financing Update 2018

Feb 20, 2018

SAUDI ARABIAN MINING COMPANY (MAADEN) ANNOUNCES THAT ITS SUBSIDIARY MAADEN PHOSPHATE COMPANY (MPC) HAS SUCCESSFULLY COMPLETED THE OFFERING OF ITS SHARIAH COMPLIANT SUKUK

1211 · 20/02/2018 15:05:47 · Announcement #49483 · View on Saudi Exchange

SAUDI ARABIAN MINING COMPANY (MAADEN) ANNOUNCES THAT ITS SUBSIDIARY MAADEN PHOSPHATE COMPANY (MPC) HAS SUCCESSFULLY COMPLETED THE OFFERING OF ITS SHARIAH COMPLIANT SUKUK

Saudi Arabian Mining Company (Maaden) announces that its subsidiary, Maaden Phosphate Company (MPC) has successfully completed the offering of its Shariah compliant sukuk for the amount of SAR 3.5 billion (USD 933,333,000) (consisting of 3500 certificates with a nominal value of SAR 1,000,000 each). The proceeds from the issuance will be utilised for the purpose of replacing a portion of the existing debt of MPC and will not increase the amount of MPC debt. The offering was a single class unsecured instrument denominated in Saudi Riyals privately offered to commercial banks and financial institutions.

The Sukuk has an expected return of 135 basis points over the Saudi Interbank Offered Rate (SIBOR) and a maturity of seven years payable in one lump sum. Redemption will either be scheduled redemption, or for tax reasons (at the option of MPC) or following a change of control (at the option of the sukukholders).

Further substantial developments will be announced in due course.

MPC is a limited liability company co-owned by Maaden (70 %) and Saudi Basic Industries Corporation (SABIC) (30%).

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.