The Islamic Corporation for the Development of the Private Sector (ICD) Participates in Saudi Telecom Company's USD 2.0 Billion Dual Tranche Sukuk Issuance

The transaction's competitive pricing underscores market recognition of STC's operational excellence, digital transformation agenda, and alignment with Saudi Vision 2030
 

• ICD serves as Joint Lead Manager for STC's $2.0 billion dual-tranche Sukuk.
• First-time collaboration between ICD and Saudi Arabia's largest telecommunications company.
• Transaction achieves 4x oversubscription with $8 billion in total orders from 300+ global investors.
• Competitive pricing reflects strong market confidence in STC's credit quality and strategic vision.
• Issuance supports digital infrastructure expansion and financial inclusion across the region.

The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-PS.org), the private sector arm of the Islamic Development Bank (IsDB) Group, has participated as Joint Lead Manager in Saudi Telecom Company's (STC) successful $2.0 billion dual-tranche Sukuk issuance.

This landmark transaction represents STC's first return to the international sukuk market since its $1.25 billion issuance in 2019, demonstrating continued investor confidence in both STC and Shariah-compliant capital markets in the Kingdom of Saudi Arabia.