Saudi Real Estate Refinance Co sells domestic sukuk, plans dollar issue

The issuance last week was SRC's third in the local currency, but the first to be guaranteed by the Saudi finance ministry, Fabrice Susini said

  
Image used for illustrative purpose. In Saudi Arabia, Riyadh

Image used for illustrative purpose. In Saudi Arabia, Riyadh

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DUBAI  - Saudi Real Estate Refinance Co (SRC), modelled on U.S. mortgage finance firm Fannie Mae, has issued 4 billion riyals ($1.07 billion) in a two-tranche private placement of sukuk, its chief executive said.

The issuance last week was SRC's third in the local currency, but the first to be guaranteed by the Saudi finance ministry, Fabrice Susini told Reuters in an interview. SRC also plans to issue sukuk denominated in U.S. dollars by year-end, he said.

(Reporting by Yousef Saba Editing by Shri Navaratnam) ((Yousef.Saba@thomsonreuters.com; +971562166204; https://twitter.com/YousefSaba))

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