| Saudi Arabia’s General Authority of Civil Aviation raised 15 billion riyals ($4 billion) from the sale of Islamic bonds, said a banker familiar with the transaction.
The 10-year notes will pay a profit rate of 2.5 percent, said the banker, who declined to be identified because the details are private. The authority plans to use funds from the sale to build a 27 billion-riyal ($7.2 billion) airport in Jeddah. HSBC Holdings Plc’s unit in Saudi Arabia managed the transaction...............................................Full Article: Source
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