RIYADH — Saudi Fransi Capital (SFC) announced the completion of the Fifth Saudi Binladin Group sukuk issue for SR1.3 billion, covered in full. The subscription closed last April, with great acceptance from investors due to the sound reputation of the issuing company as well as the two and a half years duration. Binladin Group expressed gratitude for the success of the sukuk issuance and acceptance by investors, which in turn reflected in suck pricing at 170 bps plus Murabah SIBOR for three months. The company commented that this success is an encouraging sign for further sukuk issuance in the future. It was a private sukuk issuance that complies with the rules and regulations of the Capital Market Authority. SFC was the lead manager ad book runner for the issuance. — SG
