On Tuesday, the Saudi Arabian Mining Company "Ma'aden" announced its intention to issue dollar-denominated sukuk under its international sukuk issuance program for general corporate purposes.
In the company's disclosure to the Saudi Stock Exchange (Tadawul), Ma'aden anticipated that the sukuk would be issued through a special purpose vehicle and offered to qualified investors both inside and outside the Kingdom of Saudi Arabia, with the value of the sukuk and the terms to be determined according to market conditions.
Furthermore, Ma'aden stated that it has appointed Citigroup Global Markets Limited, HSBC Bank PLC, along with Al Rajhi Capital, BNP Paribas, GIB Capital, JP Morgan Securities PLC, Natixis, Saudi French Capital, and Al Ahli Capital as the lead managers for the potential offering.
