On 28 July 2020, Rawabi Holding Company (“Rawabi” or the “Company”) had successfully concluded its third issuance of a SAR 583 million Sukuk due on 28 July 2022 (“Third Series”) under the SAR 1.5 billion Sukuk programme established by a special purpose vehicle (“Sukuk Programme”). The Third Series follows two successful issuances since the Sukuk Programme was established earlier in the year. Albilad Capital, Alinma Investment Company and Riyad Capital acted as co-dealers for the Third Series.
Ahmad Al-Shubbar, Vice President, Treasury & Strategy, at Rawabi said: “The successful issuance of three series totaling almost SAR 1.16 billion under the Sukuk Programme in the year to-date demonstrates the resilience of Rawabi’s business model and growth strategy during a remarkably challenging period. The Sukuk Programme plays an integral role in helping Rawabi to diversify its funding sources, ensuring that the Company is well-positioned to execute its ambitious growth strategy going forward.”
“We are delighted to receive such a strong endorsement from capital markets investors, recognizing Rawabi’s unique position to capitalize on its leading position in the regional oilfield services industry.”
“We are very pleased to work with our investment banking partners to attract strong institutional interest for the Sukuk Programme.”
Simmons & Simmons LLP acted as legal counsel.
About Rawabi Holding Company
A leading global provider of products and services to a diversified range of key industries, with a focus on Oil & Gas industry.
Through its fully owned subsidiaries and controlled companies: Rawabi Oil & Gas (ROG), Rawabi Vallianz Offshore Services (RVOS) and Vallianz Holdings Limited (VHL); Rawabi Holding provides a wide range of Supply to the Upstream, Downstream and Midstream sectors on the Oil & Gas Industry supported by a wide range of Oilfield Services that covers drilling, intervention and productions activities. Additionally, the group operate a large young fleet of Offshore Service Vessels and Jack-up Barges in the MENA, Europe, North and South America and Far East.
About Albilad Capital
Albilad Capital is the investment arm of Bank Albilad and is authorized by the Capital Market Authority (CMA) (License No. 08100-37) offering innovative investment products and services including Investment Banking, Corporate Financing, Custody and Brokerage services, as well as Asset Management service through Mutual Funds and Discretionary Portfolio Management.
About Alinma Investment Company
Alinma Investment, a Saudi closed joint stock company wholly owned by Alinma Bank under CR No. 1010269764, dated 23/06/1430, was established by Alinma Bank with a capital of SAR 1,000,000,000 (One Billion S.R) and a paid up capital of SAR 250 Million to be in the forefront of leading companies in the provision of full range of Shariah-compliant investment products and services.
The Company obtained the Capital Market Authority License No.09134-37 on April 14, 2009 and launched its operations on January 17, 2010. The Company is currently engages in many activities, including dealing as Principal and Agent, underwriting, managing investment funds, portfolio management, arrangement, providing advisory and custodial services with respect to securities business.
About Riyad Capital
Riyad Capital is a Saudi Closed Joint Stock Company (Commercial Registration No. 1010239234) fully-owned by Riyad Bank with paid-up capital of SAR 200,000,000 and licensed by the Saudi Arabian Capital Market Authority (No.07070-37) to provide securities services such as, principal, agent, underwriting, arranging, advising, and custody. Believing in the importance of managing wealth and planning for future financial needs, Riyad Capital provides a wide range of investment products and solutions through a team of experts in investment and financial planning, assets management and corporate investment banking.
© Press Release 2020
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