Majid Al-Hogail, Minister of Municipalities and Housing
Majid Al-Hogail, Minister of Municipalities and Housing and Chairman of Saudi Real Estate Refinance Co. (SRC), said as much as $5 billion is planned to be issued under the company’s sukuk program, with $2 billion worth of sukuk offered so far. 
Speaking to Al Arabiya TV, Al-Hogail explained that the second tranche under the sukuk program will be offered in three months. He expected the new issuances to be equally priced with government bonds.
The first tranche was priced 10 basis points (bps) above the three-year government bonds and eight bps above 10-year bonds, he added.
According to Argaam’s data, SRC, a subsidiary of the Public Investment Fund (PIF), announced the completion of pricing the first government-guaranteed international sukuk worth $2 billion (nearly SAR 7.5 billion).
The issuance, structured in two tranches with maturities of three and 10 years, was 6x oversubscribed, reflecting strong demand from more than 300 institutional investors.
This came under SRC’s $5 billion international sukuk program that was listed on the London Stock Exchange’s (LSE) International Securities Market (ISM).
Majid Al-Hogail, Minister of Municipalities and Housing
Majid Al-Hogail, Minister of Municipalities and Housing and Chairman of Saudi Real Estate Refinance Co. (SRC), said as much as $5 billion is planned to be issued under the company’s sukuk program, with $2 billion worth of sukuk offered so far.
Speaking to Al Arabiya TV, Al-Hogail explained that the second tranche under the sukuk program will be offered in three months. He expected the new issuances to be equally priced with government bonds.
The first tranche was priced 10 basis points (bps) above the three-year government bonds and eight bps above 10-year bonds, he added.
According to Argaam’s data, SRC, a subsidiary of the Public Investment Fund (PIF), announced the completion of pricing the first government-guaranteed international sukuk worth $2 billion (nearly SAR 7.5 billion).
The issuance, structured in two tranches with maturities of three and 10 years, was 6x oversubscribed, reflecting strong demand from more than 300 institutional investors.
This came under SRC’s $5 billion international sukuk program that was listed on the London Stock Exchange’s (LSE) International Securities Market (ISM).
