Saudi Binladin Group SR1 billion sukuk al-murabaha

Overview:

• Saudi Binladin Group has undertaken a SR1 billion sukuk (Islamic bond) issue.
• The sukuk has an annual yield of 2.5% and utilises a sukuk al-murabaha structure.
• GIB Capital and BNP Paribas acted as joint lead managers, with GIC acting as coordinator.
• The funds raised will be used to refinance a phase of the construction of the King Abdulazizi International Airport.

Sam Duke - Editor