petroleum Phosphate Company , a subsidiary of Saudi Arabian petroleum Company ( Ma'aden ) has issued a sukuk for SAR3.5bn ( $ 500 m ) . It said the issuance , applies to commercial banks and financial institutions , while proceeds will be used to pay down some of Ma'aden 's debts .
Ma'aden Phosphate Company, a subsidiary of Saudi Arabian Mining Company (Ma'aden) has issued a sukuk for SAR3.5bn ($93.2m). It said the issuance, offered to commercial banks and financial institutions, while proceeds will be used to pay down some of Ma'aden's debt.