Saudi Fransi Capital Closes SAR 1.0bn Issuance


Saudi Fransi Capital Successfully Closes SAR 1.0bn Maiden Sukuk Issuance for Abdullah Al Othaim Real Estate Investment and Development Company

Saudi Fransi Capital announces the successful closing of the SAR 1.0 billion five year Sukuk offering on behalf of Abdullah Al Othaim Real Estate Investment and Development Company “OREIDCO”.

The Sukuk (senior secured) has been issued through OREIDCO Sukuk Limited, by way of a private placement in the Kingdom of Saudi Arabia. OREIDCO Sukuk has attracted strong interest from the investors community in the Kingdom, with demand originating from government-owned funds, banks, asset managers, corporates and insurance companies. The Sukuk, priced at six-month SAIBOR 1.7%, has helped OREIDCO achieve its objective of diversifying its sources of financing and in extending the liability profile. OREIDCO plans to use the Sukuk proceeds for meeting its requirements for capital investment and for general corporate purposes.

GIB Capital, NCB Capital and Saudi Fransi Capital acted as Joint Lead Managers and Joint Book Runners on the transaction.

OREIDCO (via its subsidiaries) is engaged in the development and operation of retail shopping malls in the Kingdom of Saudi Arabia as well as providing entertainment and leisure amenities in Saudi Arabia, UAE, Egypt and other neighbouring markets. It also owns and operates food and beverage outlets in some of its retail shopping malls.

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