Saudi Telecom Company hires banks to issue dollar sukuk
Saudi Arabia’s largest telecoms operator Saudi Telecom Company (STC) has hired banks for its U.S. dollar-denominated Islamic bonds, or “sukuk”, the company said in a bourse filing on Tuesday.
The telecom operator has picked Citi, HSBC, and Standard Chartered Bank as Global Coordinators and joint lead managers and bookrunners, while BNP Paribas, DIB, Emirates NBD Capital, The Islamic Corporation for the Development of the Private Sector, KFH Capital, Mashreq, NBG and SNB Capital are acting as joint lead managers and bookrunners, the document said.
