The paper, issued last week, offers investors a profit rate equivalent to 160 basis points over the 6-month Saudi interbank offered rate, said the sources.
Bank Negara had originally given Malaysian Industrial Development Finance (MIDF) and Al Rajhi Malaysia a period of three months to hold discussions for their proposed merger.
The loan will be used to finance the company’s working capital and to meet other business requirements.
In 2017, most of the growth stemmed from jumbo sukuk issuances in some GCC countries
The seven-year facility includes a grace period of three years
"We are planning to issue a sukuk in dollars before the end of this year," Fahad al-Saif told reporters on the sidelines of a conference in London.