Saudi Telecom Co. — Capital/Financing Update 2014

Jun 10, 2014

SAUDI TELECOM COMPANY ANNOUNCES THE SUCCESSFUL CLOSING AND SETTLEMENT OF ITS DEBUT SAR 2 BILLION Under ITS SUKUK PROGRAMME.

7010 · 10/06/2014 08:19:33 · Announcement #34819 · View on Saudi Exchange

SAUDI TELECOM COMPANY ANNOUNCES THE SUCCESSFUL CLOSING AND SETTLEMENT OF ITS DEBUT SAR 2 BILLION Under ITS SUKUK PROGRAMME.

Further to the announcement made by Saudi Telecom Company (STC) on Tadawul on 25 May 2014 that it had begun meetings with potential qualified investors regarding the offer of the first sukuk series under its newly established SAR 5 billion private placement sukuk programme, STC is pleased to announce the successful closing and settlement of the aforementioned sukuk series with an aggregate subscription amount of SAR 2 billion. The sukuk series achieved a tenor of 10 years (maturing in June 2024) and a floating profit rate of 70bps over 3M SIBOR.

This debut Sukuk issuance of STC was almost two times oversubscribed. The investor base captured was diverse comprising a mix of government investors, banks, asset managers and insurance companies. The order book opened on Sunday 1 June and closed on Tuesday 3 June.

J.P. Morgan Saudi Arabia Limited, NCB Capital Company and Standard Chartered Capital Saudi Arabia acted as Joint Arrangers on the Sukuk Programme and Joint Managers on this debut issuance of STC.

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.