26.03.2013 - Marafiq plans debut riyal bond
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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