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Stc Plans US Dollar-denominated Sukuk Issue

MT Newswires·01/06/2026 03:04:22
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03:04 AM EST, 01/06/2026 (MT Newswires) -- Saudi Telecom Co. (SASE:7010), d/b/a stc, said Tuesday it plans to issue a US dollar-denominated sukuk under its $5 billion international trust certificate issuance program through an offshore special purpose vehicle. The offering remains subject to regulatory approval, with the telecommunications group planning to use the proceeds for general corporate purposes. BNP Paribas, Citibank, Dubai Islamic Bank, Emirates NBD Capital, HSBC, Islamic Corp. for the Development of the Private Sector, Kuwait Finance House Capital, Mashreq Bank, National Bank of Greece, SNB Capital, and Standard Chartered Bank will serve as joint lead managers for the offering.