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Saudi Arabia - Rawabi Vallianz Offshore Services (RVOS), an equally-owned joint venture between Rawabi Holding and Vallianz Holdings Limited, has appointed Alinma Investment Co., Saudi Fransi Capital, Saudi Hollandi Capital and GIB Capital LLC as Joint Lead Managers and Book-Runners for its first issuance of a SAR 1 Billion Shariah - compliant Sukuk. The Sukuk were sold through a private placement to sophisticated investors in full and are to be used to partially finance the marine assets of RVOS over a period of five years.
Sheikh Abdulaziz AlTurki, Rawabi Holding Group Chairman nd Chairman of Rawabi Vallianz, emphasized on this important event as a first for the company and said: "Sukuk have become a prominent financing product in the world nowadays. The issuance of these Sukuk through financial institutions and investment funds are traded while abiding to specific rules and laws that follow such types of funding."
"Sukuk are considered imperative funding channels used to provide the required liquidity to finance projects at an acceptable cost, paving the way for other means of funding through financial and non-financial institutions and individuals thus leading to an expansion in the finance base, a reduced pressure on the banks' monetary liquidity and a healthy support for the national economy." He then added. "It also provides protection for the investors by empowering them with the ability to diversify risks through providing calculated risk investment tools and a positive cycle of return on investment."
It is worth mentioning that Rawabi Holding brings together a significant experience of three decades in providing a diversified range of products and services in the fields of oil and gas, petrochemicals, engineering and construction, power and manufacturing in the Kingdom of Saudi Arabia and the Middle East.
Rawabi Holding's partner, Vallianz Holdings Limited, an established provider of offshore support vessels and integrated marine solutions to the oil and gas industry, celebrated this solution of RVOS "Vallianz is excited to have been part of this innovative financing structure and that the issuance of the Sukuk is a testament of the good working relationship with various partners in the Middle East" stated Vallianz CEO, Mr. Ling Yong Wah.
Rawabi Vallianz specializes in offering marine services and solutions such as Offshore Engineering and Construction Services, Supply Anchor Handling Tug Support & Safety vessels (AHTSS), Platform Supply Vessels (PSV), Accommodation Barges, Utility Boats, Offshore Well-testing Jack-ups, Offshore Floating Storage & Support Vessels (OFSSV), and Subsea pipe and cable laying.
Rawabi Vallianz Offshore Services has recently celebrated the graduation of the second batch of Saudi Marine Officers and Engineers who have completed a higher level of training programs that made them eligible for leading positions in the company as part of Rawabi Holding's Corporate Social Responsibility, which aims to empower Saudi youth by providing them with the necessary skills and expertise to excel in their careers and by doing so, to contribute to the economic development of Saudi Arabia.
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About Rawabi Holding Company Limited
Three decades of providing a diversified range of products and services in the fields of oil, gas & petrochemicals, engineering & construction, power, telecom & IT, corrosion & industrial services, logistics and consumer products in Saudi Arabia and the Middle East has made Rawabi Holding a leading industrial player. Customer-focused Rawabi builds strategic partnerships with long term commitments to maintain a strong network of business relationships, working in a professional environment that combines technical expertise to provide the very best in quality products and services.
Rawabi Holding companies comprise of fully owned subsidiaries, partially owned companies and joint venture companies. With international partners from more than 25 countries and representing over 100 worldwide prominent companies, Rawabi Holding strives to provide its clients with a full array of services catering to their needs and exceeding their expectations.
For more information:
Hussein Nasrallah
Senior Media Relations Manager
Memac Ogilvy PR
Tel: +966 12 651 0704
Mob: + 966 50 466 3187
E-mail: Hussein.nasrallah@ogilvy.com
© Press Release 2016
