{"id":94283,"date":"2025-02-11T00:00:00","date_gmt":"2025-02-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/02\/11\/rawasi-albina-issues-prospectus-for-sar-500-mn-sukuk-program\/"},"modified":"2025-02-11T00:00:00","modified_gmt":"2025-02-11T00:00:00","slug":"rawasi-albina-issues-prospectus-for-sar-500-mn-sukuk-program","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/02\/11\/rawasi-albina-issues-prospectus-for-sar-500-mn-sukuk-program\/","title":{"rendered":"Rawasi Albina issues prospectus for SAR 500 mn sukuk program"},"content":{"rendered":"

<\/strong>Raw<\/strong>asi <\/strong>is one step closer to selling sukuk: <\/strong>Tech and telecom advisory firm Rawasi Albina<\/a>Investment<\/a> is out with a prospectus (pdf)<\/a> for the upcoming SAR 500 mn sukuk program, which will see the issuance of multi-tranche SAR-denominated offerings to qualified investors. The program received the go-ahead from the Capital Market Authority last month<\/a>.<\/p>\n

The details:<\/strong> Investors can subscribe for a minimum of 5 sukuk (SAR 5k) and a maximum of 500 sukuk (SAR 500k) \u2014 at a par value of SAR 1k each \u2014 with total allocations subject to the overall program cap of SAR 500 mn. The specific offer period and maturity dates for each tranche will be provided at a later date in the final terms for each issuance, the prospectus read.<\/p>\n

Use of proceed<\/strong>s:<\/strong> Proceeds from the offerings are earmarked for \u201cgeneral corporate purposes\u201d through two Shariah-compliant structures \u2014 mudaraba and murabaha. The mudaraba portion should not be less than 51%, while the murabaha portion will not exceed 49%.<\/p>\n

ADVISORS<\/strong>- Al Khair Capital<\/strong> will act as the sole arranger and financial advisor on the <\/strong>issuance. <\/strong>Receiving agents include SNB Capital, BSF Capital, Alrajhi Capital, Riyad Capital, Albilad Capital, Aljazira Capital, Alistithmar Capital, Derayah Financial, Alinma Investment, ANB Capital, Yaqeen Capital, Alkhabeer Capital, SAB Invest, and Sukuk Capital.<\/p>\n

\n

ALSO FROM DEBT MARKETS-<\/p>\n

Saudi Ele<\/strong>ctricity Co<\/strong>mpany (SEC) has begun investor meetings for a potential <\/strong>USD-denominated sukuk issuance<\/strong>, part of its international sukuk program, it said in a disclosure to Tadawul<\/a>. The offering will be available to eligible investors in Saudi Arabia and internationally, pending regulatory approvals. The size of the senior unsecured issuance is yet to be determined<\/p>\n

Use of proceeds:<\/strong> Funds raised through the issuance will be earmarked for SEC's corporate purposes, capital expenditures, and potential financings for projects under the company\u2019s Green Sukuk Framework.<\/p>\n

ADVISORS- <\/strong>Joint Lead Managers for the potential offering include HSBC, Standard Chartered Bank, Abu Dhabi Commercial Bank, First Abu Dhabi Bank, Mizuho, MUFG, SMBC, Intesa Saopaolo, Alistithmar Capital, BofA Securities, ICBC, BNP Paribas, Emirates NBD Capital, Natixis, Dubai Islamic Bank PJSC, Bank of China, and SNB Capital. <\/p>\n","protected":false},"excerpt":{"rendered":"

Rawasi Albina will use sukuk proceeds for corporate funding via mudaraba and murabaha<\/p>\n","protected":false},"author":1,"featured_media":94284,"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":[2441,57,10,2191],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-94283","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt","tag-debt-watch","tag-enterpriseam-ksa","tag-rawasi-albina","wpautop","entry"],"acf":{"mongo_id":"ca4e2358-1245-434d-b26b-9e29a25ee3b9","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/1736.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Rawasi Albina issues prospectus for SAR 500 mn sukuk program","related_issue":[94273],"teaser":"Rawasi Albina will use sukuk proceeds for corporate funding via mudaraba and murabaha","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/2\/.86cc3be7-c0e2-413d-9661-2d0929ad8a87.mp3"},"yoast_head":"\nRawasi Albina issues prospectus for SAR 500 mn sukuk program - 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