Jabal Omar Development Co. is planning to raise SAR 4 billion from riyal-denominated sukuk issues, Reuters reported on Monday, citing unnamed sources with knowledge of the matter.
The developer may start issuing these sukuk over the next few months, the sources said. It was not clear whether all the sukuk would be issued at one time or over a period of time.
Bank Albilad has been appointed to arrange the sale, but other banks are likely to play leading roles in the issuance.
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