King Abdullah Financial District Development and Management Co. (KAFD DMC), the developer and operator of Riyadh’s premier business and lifestyle destination, has secured a SAR 12 billion, 15-year, senior-secured Murabaha facility, its first independently secured debt facility.
Arranged with a syndicate of leading local and regional financial institutions, the facility demonstrates market confidence in KAFD’s long-term fundamentals and increasing private sector interest in financing major projects across the Kingdom, according to a press release.
Al Rajhi Capital acted as the Structuring Advisor for the Facility, with participation from Al Rajhi Bank, Saudi Awwal Bank, Saudi National Bank, Riyad Bank, Alinma Bank, Arab National Bank, Gulf International Bank – Saudi Arabia, as Mandated Lead Arrangers, along with Bank Albilad, Mashreqbank PSC and National Bank of Kuwait as the Bookrunners.
The breadth and profile of the participating institutions reinforce KAFD’s attractiveness to private sector investors, underpinned by its track record of delivery and long-term outlook, said the company.
The facility diversifies funding sources and bolsters KAFD’s ability to execute its long-term strategic priorities. The company’s ability to attract significant non-government funding underscores its maturity as a trusted investment destination, reinforcing the strength and confidence among local and regional banking partners, it added.
King Abdullah Financial District Development and Management Co. (KAFD DMC), the developer and operator of Riyadh’s premier business and lifestyle destination, has secured a SAR 12 billion, 15-year, senior-secured Murabaha facility, its first independently secured debt facility.
Arranged with a syndicate of leading local and regional financial institutions, the facility demonstrates market confidence in KAFD’s long-term fundamentals and increasing private sector interest in financing major projects across the Kingdom, according to a press release.
Al Rajhi Capital acted as the Structuring Advisor for the Facility, with participation from Al Rajhi Bank, Saudi Awwal Bank, Saudi National Bank, Riyad Bank, Alinma Bank, Arab National Bank, Gulf International Bank – Saudi Arabia, as Mandated Lead Arrangers, along with Bank Albilad, Mashreqbank PSC and National Bank of Kuwait as the Bookrunners.
The breadth and profile of the participating institutions reinforce KAFD’s attractiveness to private sector investors, underpinned by its track record of delivery and long-term outlook, said the company.
The facility diversifies funding sources and bolsters KAFD’s ability to execute its long-term strategic priorities. The company’s ability to attract significant non-government funding underscores its maturity as a trusted investment destination, reinforcing the strength and confidence among local and regional banking partners, it added.
