Wednesday, February 28, 2024

Saudi Real Estate Refinancing Corporation (SRC) has completed its local sukuk program worth 3.5 billion riyals.


Al Riyadh, Saudi Arabia: The Saudi Real Estate Refinancing Agency revealed that “SRC“- Wholly Owned by the Public Investment Fund – recently announced the success of issuing 3.5 billion Saudi Riyals worth of sukuk as part of its program denominated in Saudi Riyals and backed by government guarantees. Complete a dual-term local sukuk program worth 20 billion Saudi Riyals. Its duration is 5 and 7 years..

In this regard, the CEO… SRC Fabrice Soussini said: “This launch saw a positive response from investors, which demonstrates their confidence in the local market and the company’s business model and confirms its active role in the real estate financial market. The goals of the Kingdom’s visionary plans.” 2030

He added: “The company’s continuous sukuk issuances reinforce its commitment to contribute to the growth of the financial sector in the Kingdom, based on our passion to continue to develop the real estate finance market by providing innovative solutions to the real estate refinancing market. Funding supports companies to achieve liquidity and further growth in the sector.” Home ownership rates for Saudi households“.

The company pointed out that HSBC While managing the offering, he was the main coordinator of the Sukuk Prasad Al Jazeera is the capitalAndAl Rajhi is the capitalAndHSBC Bank Saudi ArabiaAndAlAhli Capital“.

It is noteworthy that the Saudi Real Estate Refinancing Agency was rated (A+) (fixed) from a company Fitchand classification (A2) (certain) from a company Moody’sand classification (A-) (fixed) from Standard and poor“.

See also  Sheikh Fatima congratulated the winners of the Best Award for Arab Women in Medicine.

The Saudi Real Estate Refinancing Agency was established in 2017 by the Public Investment Fund as part of government efforts to support the Kingdom’s Vision 2030 housing program. Kingdom, the company has received a license from the Central Bank of Saudi Arabia to engage in secondary real estate financing..

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Rolf Colon
Rolf Colon
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