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The Savola Group announces its intention to buy-back the entire Sukuk issued on 9/7/2019 and its intention to cancel them.
| Element List | Explanation |
|---|---|
| Introduction | Further to Savola`s Group ("the Group") announcement dated 22/12/2024 which was published on Tadawul's website regarding the Group's intention to buy-back part of the Sukuk issued on 9/7/2019 amounted to SAR 940 million out of SAR 1 billion (the "Sukuk"), representing 94% of the total Sukuk as per the details indicated in above mentioned announcement, and in continuation of the Group efforts that aims to enhance and improve its capital structure, reduce its financial obligations and financing costs, the Group announces its intention to buy-back the remaining Sukuk amounted to SAR 60 million of the same Sukuk issued on 9/7/2019 and maturing on 9/7/2026 (the "Buy-back"). This will bring the total redeemed Sukuk percentage to (100%) of the original issued Sukuk. Once the Buy-back is completed, the Group intends to cancel the purchased Sukuk in accordance with the terms and conditions relating to the Sukuk. |
| Offer Type | Sukuk denominated in Saudi Arabian Riyals offered by way of private placement. |
| Value of the redeemed (sukuk\ bonds) | SAR 60,000,000 |
| Percentage of Redeemed (Bonds/Sukuk) out of Total Issued (bonds/sukuk) | 6 % |
| Number of redeemed (bonds/sukuk) | 60 Sak |
| Issuance Date | 2019-07-09 Corresponding to 1440-11-06 |
| Trading End Date | 31/12/2024 |
| Sukuk Par Value at Redemption Date | SAR 1,000,000 per Sak |
| Total issuance value after redemption | 0 |
| Date of Depositing the Amounts in the (Bonds/Sukuk) Holders Accounts | 2024-12-26 Corresponding to 1446-06-25 |
| Name of the Entity Responsible for the Deposit and Contact Details | HSBC Saudi Arabia HSBC Building,7267 Olaya- Al-Murooj District, Riyadh 12283-2255, Kingdom of Saudi Arabia Tel: +966 11 2992130 Email: ksasalestrading@hsbcsa.com |
| Additional Information | The financial impact of this transaction will appear in the annual results of the financial year 2024 With this, the Savola Group has completed the early buy-back and redemption process of all Sukuk issued, in line with its strategic objectives which aims to improve its capital structure and reducing financial obligations and financing costs. |
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.
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