Savola Group — Capital/Financing Update 2019

Jun 18, 2019

Savola Group announces the start of offering the first issuance of sukuk pursuant to its Sukuk program

2050 · 18/06/2019 15:22:20 · Announcement #55321 · View on Saudi Exchange

Savola Group announces the start of offering the first issuance of sukuk pursuant to its Sukuk program

Element List	Explanation
Introduction	Reference to the announcement from the Savola Group (the Company) published on the website of the Saudi Stock Exchange (Tadawul) on 4/9/1440H (corresponding to 9/5/2019) relating to the intention of the Company to establish a Sukuk Program (the “Sukuk Program”) and to offer the first issuance under such program in exchange for monetary consideration or in exchange of all or some of the Sukuk issued on 10/03/1434H (corresponding to 22/01/2013G) (the “Previous Sukuk”), as deemed appropriate by the Company, the Company would like to announce that the Sukuk Program has been established and that it will start offering the first sukuk issuance under the Sukuk Program.
Issuing type	Sukuk denominated in Saudi Arabian Riyals offered by way of private placement.
Issuing Amount	The exact value and final terms of the first issuance and the number and value of the Previous Sukuk that may be exchanged and the terms of such exchange, will be determined subject to the market conditions and the Company’s needs.
Issuing Start Date	2019-06-19 Corresponding to 1440-10-16
Issuing End Date	2019-08-31 Corresponding to 1441-01-01
Target group of issuance	Sophisticated Investors.
Lead Manager	HSBC Saudi Arabia
Minimal Subscription	SAR 1,000,000
Listing Price (Sukuk /Bonds)	100% (at par)
Par Value	SAR 1,000,000
Return (Sukuk /Bonds)	SAIBOR plus a Profit Spread
Maturity (Sukuk /Bonds)	7 years
Terms of Redemption	Subject to market conditions.
Additional Information	It should be noted that the End of Offering Period might be earlier subject to market conditions.

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.