{"id":85579,"date":"2024-04-28T00:00:00","date_gmt":"2024-04-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/04\/28\/rawabi-closes-its-largest-sar-denominated-issuance\/"},"modified":"2024-04-28T00:00:00","modified_gmt":"2024-04-28T00:00:00","slug":"rawabi-closes-its-largest-sar-denominated-issuance","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/04\/28\/rawabi-closes-its-largest-sar-denominated-issuance\/","title":{"rendered":"Rawabi closes its largest SAR-denominated issuance"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Al Khobar-based contractor <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.rawabi.com\/\" style=\"\" rel=\"noopener\">Rawabi Holding<\/a><\/strong><strong> has closed a SAR 1.2 bn sukuk <\/strong><strong>sale<\/strong>,its largest SAR-denominated issuance to-date, it said in a statement. The issuance is part of a sukuk program it launched in 2020 to raise some SAR 6.5 bn. <strong>The sale was 2.8x oversubscribed.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A \u201clandmark\u201d issuance:<\/strong> The issuance\u2019s proceeds surpass Rawabi Holding's last sukuk sale in which it raised some SAR 875 mn last year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we don\u2019t know: <\/strong>No details were provided on the number of tranches, yield, or maturity. Rawabi also did not disclose details on use of proceeds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Rawabi: <\/strong>The Khobar-based conglomerate serves industries including oil and gas, petrochemicals, marine, engineering and construction, real estate and others. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADVISORS- <\/strong>Albilad Capital, Alinma Investment, Al Rajhi Capital, and Riyad Capital, quarterbacked the transaction as joint lead managers and bookrunners. Simmons & Simmons Middle East was transaction adviser.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The issuance\u2019s proceeds surpass Rawabi Holding's last sukuk sale<\/p>\n","protected":false},"author":1,"featured_media":85580,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2590],"tags":[57,10,118],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-85579","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt-watch","tag-enterpriseam-ksa","tag-sukuk","wpautop","entry"],"acf":{"mongo_id":"acf81dda-2a9a-42bc-afdc-d5c0f598c715","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/1896.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Rawabi closes SAR 1.2 bn sukuk sale with offering 2.8x covered","related_issue":[85567],"teaser":"The issuance\u2019s proceeds surpass Rawabi Holding's last sukuk sale","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.067e9830-6d26-4803-bc61-dafe3b3e0e62.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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