The operator of Saudi German Hospitals, Middle East Healthcare Company, has unveiled plans for a sukuk issuance through a public offering. These Islamic bonds will be offered in Saudi riyals, under the company’s extensive SAR 1.5 billion ($400 million) debt scheme, which received the green light from Saudi Arabia’s Capital Market Authority towards the end of the previous year.
The total amount to be issued by the healthcare provider, a publicly traded entity on Riyadh’s Tadawul stock exchange, is set to be determined at a future date, contingent on prevailing market situations.
As detailed in the prospectus released by Middle East Healthcare, the sukuk will be available in increments of SAR 1,000. The funds raised from this financial exercise are earmarked for broad corporate objectives.
Al Rajhi Capital has taken up multiple roles in this transaction, serving as the agent, financial advisor, lead coordinator, and sole vendor for the issuance.