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Islamic Finance Briefing - Categorized | Bonds (Sukuk), New Launches more

Marafiq plans debut riyal bond

Posted on 26 March 2013

Marafiq, a utility services provider to two industrial cities in Saudi Arabia, may conduct a debut local currency bond issue after picking HSBC’s Saudi Arabian arm to advise it on raising new corporate debt.
“It is likely to be a debt capital markets transaction,” a company spokesman told Reuters by email in response to questions. He said HSBC had been appointed to advise on the fund-raising but that a target amount had not yet been decided. The company, which counts SABIC and Saudi Aramco as shareholders, will use the money for general business activities, three banking sources said………………………………………..Full Article: Source

 
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