Majeed Al-Abduljabbar, CEO of Saudi Real Estate Refinancing Co. (SRC)
Saudi Real Estate Refinancing Co. (SRC) plans to launch its first dollar-denominated bond issue this year, said CEO Majeed Al-Abduljabbar.
During a seminar held during the Debt Markets and Financial Derivatives Forum 2024 today in Riyadh, the top executive explained that the company is working to distribute its issues between the Saudi riyal and the US dollar, while keeping overseas issues larger than local ones.
He pointed out that the company is the second largest issuer of debt instruments in the Kingdom after the Saudi government, adding that about 70-80% of its issues are for the private sector. The company's bond issues amounted to about SAR 20 billion over three years.
The CEO also indicated that the current regulations regarding the debt instruments market in the Kingdom are sound, and the next step to develop the market further is to educate issuers and investors.
According to data available to Argaam, Minister of Municipal and Rural Affairs and Housing Majid Al-Hogail said last February that SRC intends to issue bonds in the global market by Q2 or Q3 2024. He stated that there is an international desire to finance Saudi Arabia’s real estate projects through diverse products.
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}