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Jun 09 2013

Saudi Binladin Group Completes Successful Issuance of New Sukuk

Suadi Fransi Capital announced the completion of the Fifth Saudi Binladin Group Sukuk issue for SAR 1.3 bn, covered in full. The subscription closed last April, with great acceptance from investors due to the sound reputation of the issuing company as well as the two and a half years duration.

Binladin group expressed gratitude for the success of the Sukuk issuance and acceptance by investors', which in turn reflected in Sukuk pricing at 170 bps plus Murabah SIBOR for three months. The company commented that this success is an encouraging sign for further Sukuk issuance in the future.

It should be noted that this was a private Sukuk issuance that complies with the rules and regulations of the Capital Market Authority. SFC was the lead manager and book runner for the issuance.

-Ends-

© Press Release 2013

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