Bidaya repays first tranche of its Sukuk program

07/10/2019 Argaam

 

Bidaya Home Finance Company has repaid in full the first tranche of its SAR 500 million Sukuk program worth SAR 250 million, the company said in a statement on Sunday.

 

The SAR 250 million tranche was issued in April 2018 and was utilized for general corporate and lending purposes.

 

Earlier this year the company announced transactions to be brought to the market as required, including a SAR 1 billion Sukuk, SAR 500 million RMBS program, as well as an asset sale program with the SRC worth SAR 500 million, the statement added.

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