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SAL Saudi Logistics Services Co. is set to issue a Saudi riyal denominated sukuk through a private placement.
The debt raise comes under its SAR sukuk issuance programme.
J.P. Morgan Saudi Arabia and SNB Capital have been appointed arrangers and dealers.
The amount and terms of offer of the sukuk will be determined at a later stage based on market conditions at that time.
The proceeds will be used for general corporate purposes, including capital expenditure plans to support future expansions and projects and to achieve the long -term financial and strategic objectives
The logistics and supply chain solutions provider, which claims to handle 95% of Saudi cargo handling industry, plans to invest SAR1.5 billion ($26 million) in logistics infrastructure.
(Writing by Brinda Darasha; editing by Seban Scaria)
