04.04.2013 - Saudi Binladin Group prices $347mln Islamic bond
Saudi Binladin Group, one of the largest construction firms in the kingdom, has priced a 1.3 billion riyal ($346.7 million) Islamic bond, two sources said on Wednesday. The deal is the latest in a string of local currency sukuks in the kingdom, highlighting the growing importance of debt capital markets as a funding stream for Saudi borrowers who have traditionally relied on bank finance. The SBG issue, which has a 2.5-year lifespan, has a spread of 170 basis points over the three-month Saudi interbank offered rate (Saibor), the sources said, speaking on condition of anonymity as the information is not public...............................................Full Article: Source
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