Salman Bin Saedan Group plans $1 bln sukuk for social housing

13/02/2018 Argaam

 

Saudi developer Salman Abdullah Bin Saedan Real Estate Group is planning its debut $1 billion sukuk issuance just before or after May this year, Reuters reported, citing a senior executive from Bahrain-based Ibdar Bank.

 

The sukuk will be listed on the Irish Stock Exchange with a possible listing on Nasdaq Dubai, said Ikbal Daredia, the bank’s senior executive director capital markets and treasury.

 

The proceeds from the sukuk will be used to build social housing projects that aim to address a shortage of affordable residential properties in Saudi Arabia.

 

Ibdar Bank also aims to bring on board one or two international banks and regional partners as joint lead managers for the deal, he added.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.