‎“National Building & Marketing” to issue Murabaha bonds ‎worth SR100 mln

The National Building and Marketing Co. announced its intention to issue Murabaha sukuk denominated in Saudi riyals at 100 million riyals, by appointing the financial advisor for the offering, Afaq Capital Company, for the purposes of financing the working capital and capital expansions of the company.

The company has also appointed “Afaq Capital” as the sole arranging manager, for the purposes of establishing the program and issuing and offering sukuk according to it.

The company aims from the offering to enhance working capital and capital expansions, provided that the Capital Market Authority approves the company’s request to register and offer sukuk as a limited private placement process under the terms of the program.

On 02/19/2022 AD, Afaq Financial Company approved the request of the National Building and Marketing Company to appoint it as a financial advisor to offer sukuk as a limited private placement process under the terms of the program.