Alkhair Capital calls Rawasi sukukholders’ meeting on Nov. 12

Logo of Rawasi Albina Investment Co.

Alkhair Capital Saudi Arabia, acting as agent for holders of Rawasi Albina Investment Co.'s first sukuk issuance, has scheduled a meeting for Nov. 12.

 

The meeting will update sukukholders on the unpaid periodic distribution, relevant sukuk terms, and available options, the company said in a statement on Tadawul.

 

The proposed agenda includes seven items, including a review of the issuer’s position and proposed repayment plan, and a vote on a temporary standstill on enforcement action for a specified period.

 

According to Argaam data, Rawasi completed a public offering of its first SAR-denominated sukuk issuance in March 2025, raising SAR 50 million.

 

Offering details

Description

Sukuk type

First series of publicly offered, SAR-denominated sukuk

Offering value

SAR 50 mln

Total number of sukuk

50,000

Face value per sukuk

SAR 1,000

Sukuk return

Fixed at 10.25% annually, payable semiannually

Term

Five years from the sukuk settlement date

Redemption terms

At maturity on March 10, 2030, the sukuk will be redeemed at 100% of the series’ aggregate face value, subject to any purchase, cancellation, or early redemption
     

Rawasi announced in September that it was unable to distribute the periodic return on its first sukuk issuance for the period from March 10, 2026, to Sept. 10, 2026, due to the current cash liquidity level.

 

Earlier this month, Alkhair Capital said it was working to complete the procedures related to the unpaid periodic distribution.

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