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Saad Group Sukuk down at 25 % of nominal value

Fri, 2009-06-19 05:16 — IslamicFinance.de

Saad Trading Contracting & Financial Services Co.’s debt securities, known as sukuk, are trading for 25 cents on the dollar compared with this year’s high of 79 cents on Feb. 26, data compiled by Bloomberg show. Saad Group on June 2 appointed BDO Capital Finance to advise the company on restructuring plans after the Saudi central bank last month froze bank accounts of al-Sanea and his family members, reported Haris Anwar on Bloomberg.

Source: 

http://www.bloomberg.com/apps/news?pid=20601085&sid=akDBpOPBtkkg

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