{"id":91315,"date":"2024-11-07T00:00:00","date_gmt":"2024-11-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/07\/roshn-in-talks-with-international-banks-for-sar-2-6-bn-in-financing\/"},"modified":"2024-11-07T00:00:00","modified_gmt":"2024-11-07T00:00:00","slug":"roshn-in-talks-with-international-banks-for-sar-2-6-bn-in-financing","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/07\/roshn-in-talks-with-international-banks-for-sar-2-6-bn-in-financing\/","title":{"rendered":"Roshn in talks with international banks for SAR 2.6 bn in financing"},"content":{"rendered":"

PIF-backed real estate player Roshn is looking to tap international banks to <\/strong>raise SAR 2.6 <\/strong>bn (USD 666 mn) in 1Q 2025<\/strong>, with the developer currently in talks with four global banks that include JP Morgan and Standard Chartered, Roshn\u2019s Executive Director for Treasury and Ins. Fahad Al Ghamdi told Zawya<\/a>. <\/p>\n

So far, details are scant: <\/strong>Information on the identity of the other international banks currently in talks with Roshn, the structure of the credit facilities which Roshn is eyeing, and the use of proceeds has so far not been disclosed.<\/p>\n

In the meantime:<\/strong> The firm also expects to raise SAR 18 bn from Saudi banks by year\u2019s end, with that tally including a SAR 9 bn (USD 2.4 bn) syndicated credit facility<\/a> secured to fund \u201cgrowth and expansion plans\u201d last month.<\/p>\n

What\u2019s next?<\/strong> The developer intends to seek a credit rating after concluding its talks with international banks in 1Q 2025, with financial instruments such as sukuk likely to follow over the next two to three years, Al Ghamdi added. An IPO might also be on the cards, although the company does not have a definitive time frame or details on the size and value of a potential offering, Al Ghamdi said. <\/p>\n

The real estate developer is also branching out: <\/strong>Originally established to develop housing projects to support a 2030 goal of 70% home ownership among Saudis, Roshn has also expanded into commercial and retail developments, as well as industrial and logistics parks, Zawya said. The firm will also develop two out of the 15 stadiums<\/a> supporting the Kingdom\u2019s bid for the 2034 World Cup. <\/p>\n","protected":false},"excerpt":{"rendered":"

The firm is also looking to raise SAR 18 bn from local banks by year\u2019s end<\/p>\n","protected":false},"author":1,"featured_media":91316,"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":[57,10,1151,2692],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-91315","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt-watch","tag-enterpriseam-ksa","tag-public-investment-fund-pif","tag-roshn","wpautop","entry"],"acf":{"mongo_id":"7a6bf225-292d-4047-85d9-b840d3a049c6","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/621.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Roshn in talks with international banks for SAR 2.6 bn in financing","related_issue":[91308],"teaser":"The firm is also looking to raise SAR 18 bn from local banks by year\u2019s end","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.55b0bade-bbf2-476f-9830-99eebebd6f8d.mp3"},"yoast_head":"\nRoshn in talks with international banks for SAR 2.6 bn in financing - 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