Saudi Real Estate Refinance to raise SAR 1 bln in Islamic bonds by 2019-end

Saudi Real Estate Refinance Co. is planning to raise as much as SAR 1 billion in Islamic bonds by the end of the year, Bloomberg reported, citing an interview with the company’s CEO Fabrice Susini.

“Being the second sale in this year, we haven’t decided whether it will be a local or international offering,” Susini said in an interview in Riyadh.

In March, the mortgage-refinancing firm, raised SAR 500 million and also sold sukuk last year.

“The deal will most likely be supported according to the agreement signed with the Ministry of Finance," Susini said.

He also noted that from next year, the company plans to tap international sukuk markets on an ongoing basis.