VOL. XLVI

No 10

10-March-2003

SAUDI ARABIA

SOLC Plans To Issue First Corporate Bond In Saudi Arabia

Saudi Orix Leasing Company (SOLC) announced on 2 March that it would issue the first corporate bond in Saudi Arabia following signing of credit risk guarantee agreements with Saudi Investment Bank (SIB) and the International Finance Corporation (IFC). The medium-term obligations with a three-year tenure and bullet repayment, valued at SR50mn ($13.3mn), will be guaranteed up to $6.7mn by the IFC,...