PIF’s Saudi Real Estate Refinance Company issues $1.07bn sukuk

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Wed, 2021-03-10 01:31

RIYADH: The Saudi Real Estate Refinance Company (SRC) has announced SR4 billion ($1.07 billion) in long-term sukuk issuances, providing liquidity to the Kingdom’s housing market.

The real estate finance company, owned by the Public Investment Fund (PIF), recently launched a SR10 billion sukuk program targeting local investors.

The latest issuance was offered in seven- and 10-year tenors and was part of a private offering to Saudi-based institutional investors.

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