The the Saudi Real Estate Refinancing Company “SRC” owned by the Public Investment Fund, has issued a new tranche of sukuk worth 3.5 billion riyals as part of the 20-billion-riyal domestic sukuk program, making it the sixth tranche under the program denominated in Saudi riyals and backed by government guarantees.

Al Rajhi Capital and HSBC coordinated the sukuk offering, while Al Jazeera Capital, Al Rajhi Capital, HSBC Saudi Arabia, Riyadh Capital, and Alinma Investment.