Jabal Omar Development Company announces the partial early redemption of SUKUK

Introduction
Jabal Omar Development Company announces the partial early redemption of sukuk amounting to USD 67,500,000 in aggregate face amount of its Certificates (out of total face amount of USD 135,000,000) that were issued on November 15, 2018 and its original maturity date is 15 November 2023.

Accordingly, the redemption amount together with any periodic distribution amounts that would be due will be transferred to the Sukukholders’ accounts based on their respective holdings.

Offer Type
Sukuk certificates

Value of the redeemed (sukuk bonds)
USD 67,500,000

Percentage of fulfilled achievement
Not applicable

Percentage of Redeemed (Bonds/Sukuk) out of Total Issued (bonds/sukuk)
50 %

Number of redeemed (bonds/sukuk)
337.5 Suk

Issuance Date
2018-11-15 Corresponding to 1440-03-07

Trading End Date
2023-11-15

Sukuk Par Value at Redemption Date
200,000 USD

Total issuance value after redemption
USD 67,500,000

Date of Depositing the Amounts in the (Bonds/Sukuk) Holders Accounts
2022-03-04 Corresponding to 1443-08-01

Name of the Entity Responsible for the Deposit and Contact Details
The Paying Agent

• HSBC Bank plc
• 8 Canada Square
• London E14 5HQ
• United Kingdom

Fax Number: +44 845 587 0429
Email: ctla.csm@hsbc.com; ctla.payingagency@hsbc.com
Attention: The Senior Manager, CT Client Services, Corporate Trust & Loan Agency

Additional Information
This step forms part of the company’s turnaround plan that aimed at improving the company’s funding structure and reducing its financial obligations and financing costs.