Bidaya Finance fully pays last debt for second Sukuk program at SAR 300 mln

Logo of Bidaya Finance Co.

Bidaya Finance Company (Bidaya) announced that it has repaid in full SAR 300 million tranche of its second Sukuk program of SAR 1 billion.

Bidaya has successfully repaid seven Sukuk tranches, with a total of SAR 1.35 billion, since 2018. The SAR 300 million tranche was issued in August 2021 and was used to finance the company’s financing activities.

Mr. Mahmoud Dahduli, Bidaya’s CEO said “With a prudent approach to managing our liabilities, strong cash generation and robust liquidity, Bidaya continues to be better placed than ever to deliver value and further build our retail and corporate business lines. We have repaid this financing out of our existing financial resources and was made possible by our continued strong financial performance and cash generation of the business in particular. We are grateful to our banking partners and Sukuk investors for their ongoing commitment, support and confidence in our Sukuk offerings and in the strength of our business.