Washington clears Patriot Missile package to Saudi Arabia

Pentagon approves Patriot Missile sale to Saudi Arabia

The US State Department approved the Kingdom’s request to buy 730 Patriot missiles (PAC-3 MSE) in a USD 9 bn sale, with Lockheed Martin as the principal contractor, the Pentagon said in a statement on Friday. The package, part of an upgraded integrated air and missile defense (IAMD) system, includes launcher conversion kits, automated logistics systems, and technical and support services.

Tighter US defense ties: In December, the US approved two potential military sales to Saudi Arabia worth USD 1 bn for aviation training and logistics support. Crown Prince Mohammed bin Salman’s Washington visit also delivered a US-Saudi strategic defense agreement aimed at easing market access for US defense firms and securing Saudi “burden-sharing” funding. This came alongside approvals for future F-35 jet deliveries (though the Pentagon has been less keen to approve that) and nearly 300 US tanks. The developments build on a USD 140 bn US-Saudi defense sales agreement signed in May 2025.

SAL Saudi Logistics wraps up SAR 1 bn Sukuk placement

SAL Saudi Logistics raised SAR 1 bn via its SAR-denominated Sukuk private placement under its issuance program, it said in a disclosure to Tadawul on Thursday. The offering carries a floating return of 6 mn SAIBOR plus 130 bps, payable semi-annually and maturing in five years, with early redemption options.

ADVISORS- The logistics provider tapped JPMorgan Saudi Arabia and SNB Capital to manage the offering.

2026 has kicked off with a flurry of debt activity: Saudi Arabian Mining Company (Maaden) raised USD 1 bn through a 10-year sukuk, while the Public Investment Fund secured USD 2 bn from a similar 10-year issuance. Bank Al Bilad issued USD-denominated AT1 notes, and both Riyad Bank and Al Rajhi Bank raised USD 1 bn each via sukuk. Additionally, Saudi Telecom Company (STC) priced a USD 2 bn Reg-S dual-tranche sukuk offering.

Go Money kicks off micro-financing activity in the Kingdom

The Saudi Central Bank licensed Go Money to offer microfinance services, it said in a disclosure to Tadawul. Go Money, a subsidiary of Etihad Go Telecom, will start with SAR 20 mn in capital, joining an increasingly crowded field of 12 licensed microfinance companies.

The play: Go Telecom, like STC Bank and Mobily Pay before it, is wagering that its data on subscriber behavior is a better risk-assessment tool than a traditional credit score.