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Islamic Finance

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18 September 09:23 PM SNB raises SAR 3.3bn in Additional Tier 1 Sukuk offering
Riyadh – Mubasher: Saudi National Bank (SNB) has closed the offering of SAR-denominated Additional Tier 1 Sukuk at a value of SAR 3.30 billion. Based on the minimum denomination and total issue size, the total number of Sukuk reached 3,300 notes …
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18 September 08:26 PM Almarai completes redemption of SAR 1.6bn Sukuk – Series V
Riyadh – Mubasher: Almarai Company has fully redeemed its SAR 1.60 billion Sukuk – Series V on 16 September 2022. Issued on 16 September 2015, a total of 1,600 Sukuk notes were redeemed at a par value of SAR 1 million each, according to a bourse …
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11 September 01:35 PM Saudi PIF reportedly expected to issue green bonds soon
Riyadh – Mubasher: Saudi Arabia's Public Investment Fund (PIF) is expected to tap international debt markets for a debut green bonds issue as soon as this week, Reuters reported citing five sources familiar with the matter.    For months, the $620 …
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8 September 09:34 AM Riyad Bank starts offering Additional Tier 1 capital Sukuk
Riyadh – Mubasher: Riyad Bank started on Thursday issuing SAR-denominated Additional Tier 1 capital Sukuk by way of a private placement in Saudi Arabia. The amount and terms of the Sukuk offer will be determined as per market conditions, according …
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28 August 09:41 AM SNB starts offering SAR-denominated Additional Tier 1 Sukuk
Riyadh – Mubasher: Saudi National Bank (SNB) has started offering SAR-denominated Additional Tier 1 Sukuk at a par value of SAR 1 million. The bank will determine the amount and terms of the offered Sukuk based on market conditions, according to a …
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21 July 06:56 PM Bahri’s SAR 3.9bn Sukuk oversubscribed 1.95 times
Riyadh – Mubasher: National Shipping Company of Saudi Arabia (Bahri) has issued a seven-year SAR-denominated senior unsecured Sukuk at a total value of SAR 3.90 billion, with the offering being oversubscribed by 1.95 times. Bahri will use the …
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18 July 04:30 PM GFH acts joint lead manager on Dar Alarkan's $400m Sukuk issuance
Mubasher: GFH Financial Group has acted as a joint lead manager on the pricing and issuance of a $400 million Sukuk by Saudi Arabia-based Dar Alarkan Real Estate Development Company. The three-year Sukuk, which marks the company's 12th market …
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6 July 02:49 PM Bahri raises SAR 3.9bn in SAR-denominated Sukuk offering
Riyadh – Mubasher: National Shipping Company of Saudi Arabia (Bahri) has closed the offering of SAR-denominated Sukuk at a total value of SAR 3.90 billion through a private placement. The total number of Sukuk notes reached 3,900 at a par value of …
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27 June 07:06 PM solutions secures SAR 1bn loan from SNB
Riyadh – Mubasher: Arabian Internet and Telecommunication Services Company (solutions) has signed a sharia-aligned credit facility agreement with the Saudi National Bank (SNB) to obtain SAR 1 billion. The loan, which holds a funding date of 27 …
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23 June 04:42 PM SAIB commences SAR-denominated Tier 1 Sukuk offering
Riyadh – Mubasher: Saudi Investment Bank (SAIB) has started the offering of its SAR-denominated Tier 1 Sukuk at a par value of SAR 1 million. The offering will take place during 21-28 June this year, according to a recent bourse disclosure. …
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22 June 02:34 PM NDMC closes SAR 5.44bn Sukuk issuance
Riyadh - Mubasher: The Saudi National Debt Management Centre (NDMC) has closed SAR-denominated Sukuk issuance worth SAR 5.44 billion. Under the Saudi Arabian government SAR-denominated Sukuk Programme, the Sukuk issuance is divided into two …
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20 June 06:55 PM Sumou Real Estate secures SAR 50m loan from Riyadh Bank
Riyadh – Mubasher: Sumou Real Estate Company has signed a Sharia-compliant facility agreement worth SAR 50 million with Riyadh Bank. The Saudi listed company obtained the loan on 19 June this year to issue letters of credit and guarantee, …
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13 June 06:53 PM Raya Holding unveils unit’s plans for new bond issue, portfolio expansion
Cairo – Mubasher: Aman Holding, a subsidiary of Raya Holding for Financial Investments, intends to proceed with the incorporation of two companies under the name Aman for securitisation and consumer financing to complete its non-banking financial …
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6 June 04:45 PM Indonesian government lists $3.25bn Sukuk tranches on Nasdaq Dubai
UAE - Mubasher: Nasdaq Dubai has welcomed the listing of two Sukuk tranches worth $3.25 billion, issued by the Indonesian government. With a 4.40% yield, the Indonesian government has listed on Nasdaq Dubai five-year trust certificates valued …
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10 May 05:48 PM Saudi flynas obtains SAR 844m Murabaha financing
Riyadh – Mubasher: The Saudi national carrier, flynas, has received a Murabaha financing worth SAR 844 million. The amount is the first instalment of a SAR 2.25 billion financing programme that aims to enhance the airline’s growth plans, the …
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10 May 02:44 PM Bahri plans to issue SAR-denominated Sukuk
Riyadh – Mubasher: National Shipping Company of Saudi Arabia (Bahri) intends to issue SAR-denominated Sukuk worth SAR 3.90 billion to refinance the existing Sukuk that will mature on 30 July this year. The Saudi listed company pointed out that …
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1 May 05:53 PM SAIB plans full redemption of SAR 285m Sukuk
Riyadh – Mubasher: The Saudi Investment Bank (SAIB) intends to fully redeem Additional Tier 1 Capital Sukuk amounting to SAR 285 million on 6 June this year, the first call date. SAIB had issued the 285 Sukuk notes on 6 June 2017 at a par value of …
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1 May 05:22 PM Nasdaq Dubai announces listing of IsDB’s $1.6bn Sukuk
UAE – Mubasher: Nasdaq Dubai has announced the listing of a $1.60 billion Sukuk by the Islamic Development Bank (IsDB) on 29 April. The listing is IsDB’s first public Sukuk issuance in 2022, which aims to boost its position as the largest …
28 April 06:34 PM Dar Al Takaful, Watania’s shareholders approve merger
UAE – Mubasher: The shareholders of Dar Al Takaful(DAT) and National Takaful Company (Watania) have granted their green light for a merger that will result in setting up the UAE’s largest Takaful provider by market share at a value of AED 260.15 …
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25 April 05:26 PM SEC plans redemption of SAR 5.73bn Sukuk
Riyadh – Mubasher: Saudi Electricity Company (SEC) intends to fully redeem its local Islamic Sukuk at a value of SAR 5.73 billion on 10 May this year. A total of 573,069 Sukuk notes, which had been issued on 10 May 2010, will be redeemed at a par …
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11 April 01:30 PM Dar Alarkan redeems $500m Sukuk
Riyadh – Mubasher: Dar Alarkan Real Estate Development Company has redeemed its $500 million Islamic Sukuk. The company has redeemed 500,000 Sukuk, issued on 5 April 2017, at a value of $1,000 per share, according to a bourse filing on Monday. The …
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5 April 06:37 PM SEC completes redemption of $1.25bn Sukuk
Riyadh – Mubasher: Saudi Electricity Company (SEC) has fully redeemed $1.25 billion worth of the second tranche of its international Islamic Sukuk which had been issued on 3 April 2012. Listed on London Stock Exchange (LSE), a total of 6,250 Sukuk …
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28 March 09:28 AM GFH's unit issues $900m green Sukuk
Mubasher: Infracorp, the infrastructure and sustainability arm of GFH Financial Group, has issued a $900 million green Sukuk listed on London Stock Exchange. The first green Sukuk issued by a Bahraini entity reflects Infracorp’s objective to boost …
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20 March 08:44 PM SAIB plans to issue SAR-denominated Sukuk programme
Riyadh – Mubasher: Saudi Investment Bank (SAIB) intends to issue SAR-denominated Tier 1 Sukuk programme, under which it will offer a total value not exceeding SAR 2 billion through a private placement. The bank has assigned Alistithmar for …
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14 March 11:26 AM Palm Hills to issue EGP 3.25bn Sukuk
Cairo – Mubasher: The extraordinary general meeting (EGM) of Palm Hills Developments has approved the issuance of a Sharia-compliant Sukuk worth EGP 3.25 billion, in cooperation with Tharwa Securitization Company. Through the Sukuk issuance, the …