The success of the second offering was announced by the Albilad Capital Company, the financial advisor and managing director of the sukuk issuance, for the issuance of Sukuk.
According to ArabiaNet, the volume of the second targeted offering from the program reached 100 million riyals, and it was put up for a special offering, where the proposal received high interest from investors and the coverage rate exceeded 300%.
This offering is included in the 500 million riyals Sukuk issuance program.
Dr. Saleh Al-Saiari, CEO of Maalim Finance, stated that this issue comes within the company’s policy aimed at diversifying funding sources to cover the expansion of its financing portfolio, and among the most important of these financing sources is the Islamic Sukuk Program with a value of 500 million riyals, which was approved by the Saudi Arabian Monetary Agency. In the middle of 2018, which issued the first issue of 100 million riyals in the fourth quarter of 2018, and the second issue of 100 million riyals in the first quarter 2020 and the coverage rates for both issues exceeded 300%.
