Middle East Economic Survey

VOL. LIII

No 30

26-Jul-2010

SAUDI ARABIA

Saudi BinLadin Group Issues $187Mn Sukuk

The Saudi BinLadin Group, a private contractor based in the kingdom, issued a SR700mn ($187mn) Sukuk al-Murabaha on 12 July. The issue was oversubscribed two and a half times, and achieved some notable firsts, said HSBC Saudi Arabia: the first short term issuance in Saudi Arabia; the first credit enhanced structure incorporating the sharing of assigned government contract payment; and the...