SABIC today signed the underwriting agreement for its debut Sukuk issuance for a total amount of SR 3 billion, the first public Sukuk issuance in the Saudi market under the new Capital Market Law. The underwriting agreement was signed with the Lead Manager, HSBC Saudi Arabia Limited (“HSBC”), and a group of Co-Managers that included Banque Saudi Fransi, Gulf International Bank, National Commercial Bank, Samba Financial Group, Saudi Hollandi Bank, and The Saudi British Bank (“SABB”). HSBC is also acting as the Sukukholders' Agent, while SABB Amanah of SABB is the Shariah Coordinator and SABB is the Payments Administrator for this landmark transaction. The offering, which was open only to Saudi investors, proved to be a tremendous success and attracted orders from a diverse base of investors. Based on the final allocation, 49% of the SR 3 billion was allotted to pension, mutual & other funds, 15% to Corporates & Institutions, and 36% to Banks in Saudi Arabia. --MORE 25/07/2006 10:51 ت م