Latest news with #SAR-denominated
Argaam
16-04-2025
- Business
- Argaam
Aqaseem releases prospectus for SAR 500M sukuk issue
Aqaseem Factory for Chemicals and Plastics Co. issued today, April 16, the prospectus for the issuance of sukuk worth SAR 500 million. The company said it will use the net proceeds from each tranche of its sukuk program accordingly. The first SAR 50 million tranche will cover capital and operating expenses, support new business activities, and fund acquisitions aligned with its expansion strategy and business model. For More IPOs The Capital Market Authority (CMA) approved the company's application for the registration and public offering of debt instruments under the program last January. The company launched a SAR-denominated sukuk program in May 2024 to support general corporate purposes and meet its financial and strategic goals, according to Argaam 's data.
Leaders
19-03-2025
- Business
- Leaders
NDMC Wraps Up March 2025 SAR Sukuk Issuance under Saudi Program
The National Debt Management Center (NDMC) has successfully concluded the March 2025 issuance under the Saudi Government's SAR-denominated Sukuk Program, allocating a total of SAR 2.64 billion. According to a press release, the issuance was divided into four tranches: The first tranche, valued at SAR 364 million, is set to mature in 2027. The second tranche, totaling SAR 316 million, will mature in 2029. The third tranche, amounting to SAR 1.46 billion, is scheduled for maturity in 2032. The fourth tranche, worth SAR 500 million, will mature in 2039. The NDMC emphasized that this issuance is part of Saudi Arabia's broader financial strategy to strengthen the local debt market and support economic diversification, in alignment with the goals of Vision 2030. Related Topics : NDMC Concludes Feb. 2025 Sukuk Issuance under Saudi SAR Program Saudi NDMC's August Sukuk Issuance Reaches SAR 6.018 Bn, Leading GCC Market GCC Federation Chambers to Hold Gulf-Azerbaijan Economic Forum on Sept. Saudi Ministry of Finance and the National Debt Management Center Sign an Agreement with AlRajhi Bank Short link : Post Views: 14 Related Stories
Argaam
18-02-2025
- Business
- Argaam
NDMC closes February issuance of Sukuk program at SAR 3.07B
The National Debt Management Center (NDMC) closed receiving investor orders for its domestic issuance for February 2025, under the Saudi Arabian Government SAR-denominated Sukuk Program. The total volume allocated was SAR 3.07 billion, NDMC said in a statement today, Feb. 18. The sukuk issuance was divided into four tranches. The first was valued at SAR 585 million, maturing in 2029; the second is worth SAR 1.70 billion, maturing in 2032; the third amounted to SAR 404 million and will mature in 2036; and the fourth is worth SAR 376 million, maturing in 2039.
Argaam
16-02-2025
- Business
- Argaam
Saudi construction sector to grow 5% annually until 2030: SCA Chairman
Saudi Arabia's construction sector is forecast to grow at an annualized rate of 5% until 2030, Mohammed Alajlan, Chairman of the Saudi Contractors Authority (SCA), told Al Eqtisadiah newspaper. This growth reflects expansion across related industries, including suppliers, manufacturing, and labor, he added. According to Alajlan, as much as 18,000 projects are currently underway in Saudi Arabia, fueling trillions of SAR-denominated investments by 2030. He noted a significant influx of foreign companies into the Saudi construction sector, driven by market demand for their expertise. These firms would form alliances with local contractors, therefore facilitating knowledge exchange and collaboration.
Zawya
13-02-2025
- Business
- Zawya
Saudi's Waja issues $2.7mln SAR-denominated sukuk
Saudi multi-sector company Waja launched on Wednesday a SAR 10 million ($2.7 million) sukuk offering via a private placement. The company has appointed Manafea Capital as the financial advisor and sole arrangement manager for the SAR-denominated financial instruments. The minimum subscription amount for the sukuk, which is open to qualified individual investors, is pegged at SAR 1,000. Part of the company's Saudi Riyal-denominated Sukuk Issuance Programme, the latest bonds are set to mature in 24 months, but may be subject to early redemption. The offering is set to run until February 26, 2025. (Writing by Cleofe Maceda; editing by Seban Scaria)
