Company Insights Alrajhi Bank Banking and Finance Alrajhi Bank News Finance Saudi Arabia issues $9.6bn sukuk Saudi Arabia has issued new local currency sukuk worth SAR35.9 billion ($9.57 billion) after completing the early purchase of some of its SAR35.7 billion existing sukuk, the National Debt Management Center (NDMC) said. The sukuk redeemed early were set to mature in 2024, 2025 and 2026, state-run SPA reported, citing NDMC. The new issues were […] August 14, 2023 Banking and Finance Saudi’s Rawabi Energy to use $1.9bn funding for expansion Saudi Arabia’s Rawabi Energy has secured SAR7.175 billion ($1.9 billion) worth of syndicated financing in Saudi riyals and US dollars to support its expansion. The deal, which was 1.33 times oversubscribed, will accelerate its growth plans, underpinned by a full capital structure take-out and refinancing of existing debt, the company said in a statement. HSBC […] July 25, 2023 Analysis Banking and Finance Mid-cap stocks offer best dividend yields in Gulf Dividend-seeking Gulf investors are likely to find little value among the region’s blue-chip stocks and should instead target mid-cap companies with steady cash flows and low debt, experts suggest. When interest rates hovered near zero and average dividend yields on GCC stocks were around 4 percent, the difference with the risk-free rate – the return […] June 2, 2023 Energy Aramco dividends outstrip rival blue-chips Saudi Aramco’s payouts of dividends surpass those of other leading global companies, and the world’s top oil producer provides sizeable returns for its shareholders in monetary terms. Aramco listed on Riyadh’s bourse in December 2019 following a $29.4 billion initial public offering that sold around 1.7 percent of the government-owned company’s stock. Since then, it […] May 31, 2023 Energy Air Products says Saudi project driving earnings Air Products and Chemicals Inc. said that the second phase of its Saudi gas project has started contributing to income in the second quarter of 2023. Middle East and India equity affiliates’ earnings increased 39 percent year-on-year, primarily due to the completion of the second phase of the Jazan project, the world’s largest industrial gas complex […] May 10, 2023 Banking and Finance PIF-backed Saudi Electricity plans sale of dollar sukuk Saudi Electricity Company is planning to issue a green or conventional sukuk (Islamic bonds) denominated in US dollars. The banks will hold meetings with fixed-income investors starting Friday (March 31), the company said in a statement to the Saudi bourse. The issuance amount will be determined later based on market conditions and requirements. The company […] March 31, 2023 Banking and Finance Saudi’s Al Rajhi Bank to raise $1bn via sustainable sukuk Saudi Arabia’s Al Rajhi Bank is set to raise $1 billion with five-year sustainable Islamic bonds, according to a media report. The spread on the sukuk was set at 110 basis points (bps) over US Treasuries (UST), tightened from initial price guidance of around 150 bps over UST after demand topped $3.75 billion, Reuters reported, […] March 30, 2023 Banking and Finance Saudi’s Al Rajhi Bank plans dollar sustainable sukuk Al Rajhi Bank is planning to issue US dollar-denominated sustainable Islamic bond, as part of its international sukuk programme launched last year. Al Rajhi Capital, Citigroup Global Markets Limited, Emirates NBD, Goldman Sachs, HSBC, JPMorgan, KFH Capital and Standard Chartered are joint lead managers and bookrunners for the sukuk issuance, the Saudi-listed bank said in […] March 28, 2023 Banking and Finance SNB plans growth despite Credit Suisse losses Saudi National Bank has said its growth strategy will not be impacted by the UBS takeover of beleaguered rival Credit Suisse, despite analysts predicting “heavy losses” for Gulf backers. SNB is joined by Qatar Investment Authority and Saudi Arabian conglomerate Olayan Group, who all have varying levels of interest in the 167-year-old Swiss bank. Rohit […] March 20, 2023 EXCLUSIVE Banking and Finance Wahed aims for 8 million customers in global expansion Islamic fintech firm Wahed is on a global growth drive with its sights set on a presence in 50 countries, from its current 10, over the next decade. Launched in the US in 2017 Aramco-backed Wahed serves more than 300,000 customers in the UK, US, Malaysia, Indonesia, India, Kyrgyzstan, the UAE, South Africa, Nigeria and […] February 17, 2023 Posts navigation Previous 1 … 3 4 5 Next
Finance Saudi Arabia issues $9.6bn sukuk Saudi Arabia has issued new local currency sukuk worth SAR35.9 billion ($9.57 billion) after completing the early purchase of some of its SAR35.7 billion existing sukuk, the National Debt Management Center (NDMC) said. The sukuk redeemed early were set to mature in 2024, 2025 and 2026, state-run SPA reported, citing NDMC. The new issues were […] August 14, 2023
Banking and Finance Saudi’s Rawabi Energy to use $1.9bn funding for expansion Saudi Arabia’s Rawabi Energy has secured SAR7.175 billion ($1.9 billion) worth of syndicated financing in Saudi riyals and US dollars to support its expansion. The deal, which was 1.33 times oversubscribed, will accelerate its growth plans, underpinned by a full capital structure take-out and refinancing of existing debt, the company said in a statement. HSBC […] July 25, 2023
Analysis Banking and Finance Mid-cap stocks offer best dividend yields in Gulf Dividend-seeking Gulf investors are likely to find little value among the region’s blue-chip stocks and should instead target mid-cap companies with steady cash flows and low debt, experts suggest. When interest rates hovered near zero and average dividend yields on GCC stocks were around 4 percent, the difference with the risk-free rate – the return […] June 2, 2023
Energy Aramco dividends outstrip rival blue-chips Saudi Aramco’s payouts of dividends surpass those of other leading global companies, and the world’s top oil producer provides sizeable returns for its shareholders in monetary terms. Aramco listed on Riyadh’s bourse in December 2019 following a $29.4 billion initial public offering that sold around 1.7 percent of the government-owned company’s stock. Since then, it […] May 31, 2023
Energy Air Products says Saudi project driving earnings Air Products and Chemicals Inc. said that the second phase of its Saudi gas project has started contributing to income in the second quarter of 2023. Middle East and India equity affiliates’ earnings increased 39 percent year-on-year, primarily due to the completion of the second phase of the Jazan project, the world’s largest industrial gas complex […] May 10, 2023
Banking and Finance PIF-backed Saudi Electricity plans sale of dollar sukuk Saudi Electricity Company is planning to issue a green or conventional sukuk (Islamic bonds) denominated in US dollars. The banks will hold meetings with fixed-income investors starting Friday (March 31), the company said in a statement to the Saudi bourse. The issuance amount will be determined later based on market conditions and requirements. The company […] March 31, 2023
Banking and Finance Saudi’s Al Rajhi Bank to raise $1bn via sustainable sukuk Saudi Arabia’s Al Rajhi Bank is set to raise $1 billion with five-year sustainable Islamic bonds, according to a media report. The spread on the sukuk was set at 110 basis points (bps) over US Treasuries (UST), tightened from initial price guidance of around 150 bps over UST after demand topped $3.75 billion, Reuters reported, […] March 30, 2023
Banking and Finance Saudi’s Al Rajhi Bank plans dollar sustainable sukuk Al Rajhi Bank is planning to issue US dollar-denominated sustainable Islamic bond, as part of its international sukuk programme launched last year. Al Rajhi Capital, Citigroup Global Markets Limited, Emirates NBD, Goldman Sachs, HSBC, JPMorgan, KFH Capital and Standard Chartered are joint lead managers and bookrunners for the sukuk issuance, the Saudi-listed bank said in […] March 28, 2023
Banking and Finance SNB plans growth despite Credit Suisse losses Saudi National Bank has said its growth strategy will not be impacted by the UBS takeover of beleaguered rival Credit Suisse, despite analysts predicting “heavy losses” for Gulf backers. SNB is joined by Qatar Investment Authority and Saudi Arabian conglomerate Olayan Group, who all have varying levels of interest in the 167-year-old Swiss bank. Rohit […] March 20, 2023
EXCLUSIVE Banking and Finance Wahed aims for 8 million customers in global expansion Islamic fintech firm Wahed is on a global growth drive with its sights set on a presence in 50 countries, from its current 10, over the next decade. Launched in the US in 2017 Aramco-backed Wahed serves more than 300,000 customers in the UK, US, Malaysia, Indonesia, India, Kyrgyzstan, the UAE, South Africa, Nigeria and […] February 17, 2023
