SIPCHEM to raise up to SR 2 bln from a sukuk to fund plant expansions

Saudi International Petrochemical Co (Sipchem) is expecting a raise up to 2 bln riyals (US$533.3 mln) from a planned Islamic bond offering to fund plant expansions. Deutsche Securities and Riyad Capital were appointed as joint lead managers for the sukuk.
Sipchem plans to part-finance three projects worth over US$1 bln with the sukuk sale.

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