16 JUN 2022
| ELEMENT LIST | EXPLANATION |
|---|---|
| Introduction | With reference to the announcement from The National Shipping Company of Saudi Arabia (Bahri) (the "Company") published on the website of the Saudi Stock Exchange (Tadawul) on 09/10/1443H (corresponding to 10/05/2022G) relating to the intention to issue Sukuk denominated in Saudi Riyals (SAR), the Company would like to announce the commencement of the issuance of the Sukuk. |
| Offer Type | Sukuk denominated in Saudi Riyals (SAR) by way of Private Placement offer. |
| Value of the offer | Up to 3,900,000,000 Saudi Riyals. The amount and terms of offer of the Sukuk will be determined subject to the market conditions. |
| Offering start Date | 2022-06-16 Corresponding to 1443-11-17 |
| Offering end Date | 2022-07-21 Corresponding to 1443-12-22 |
| The targeted class of the issuance | Institutional and Qualified clients as defined in the Glossary of Defined Terms Used in the Regulations and Rules of the Capital Market Authority pursuant to Article 8 (a) (1) of the Rules on the Offer of Securities and Continuing Obligations. |
| Name of Issuance Manager | The Company has appointed Al Rajhi Capital Company, HSBC Saudi Arabia and SNB Capital Company as Joint Lead Managers and Bookrunners. |
| Minimum Subscription | SAR 1,000,000. |
| Offer Price (Sukuk /Bonds) | Subject to market conditions. |
| Par Value | SAR 1,000,000. |
| Return (Sukuk /Bonds) | Subject to market conditions. |
| Maturity (Sukuk /Bonds) | 7 years, subject to market conditions. |
| Terms of Redemption | The Sukuk may be redeemed prior to the scheduled maturity date in certain cases as detailed in the offering circular in relation to the Sukuk. |
| Additional Information | This announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities and is subject to the terms and conditions of the Sukuk. The Company will announce any other relevant material developments to its shareholders in due course. |