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RIYADH: National Shipping Co. of Saudi Arabia, better known as Bahri, has completed the issuance of SR3.9 billion ($1.04 billion) sukuk, denominated in Saudi Riyals and maturing in seven years.
The offering, led by Al Rajhi Capital, HSBC Saudi Arabia, and SNB Capital, started by mid-June, and the settlement was done on July 5, the firm said in a bourse filing.
The Saudi-listed company earlier said it will use proceeds to refinance the existing sukuk which will mature this month.
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