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Saudi Arabia hires banks for $2.5bn sukuk issuance

Saudi Arabia hires banks for $2.5bn sukuk issuance
The new sukuk is due in 2029

Riyadh – Mubasher: Saudi Arabia has reportedly hired JPMorgan and Standard Chartered banks to manage a $2.5 billion sukuk issuance, according to Reuters.

The new sukuk is due in 2029 and will be completed on Tuesday, the international news agency added.

JPMorgan and Standard Chartered are coordinating the deal, while Aljazira Capital acts as joint lead bank.

The Saudi government announced on Tuesday the issuance of SAR 7.265 billion ($1.94 billion) domestic sukuk.