Arabian Drilling Company Successfully Raises USD 533 Million From Sukuk Issuance

Saudi-based Arabian Drilling Company (ADC) has successfully raised SAR 2 billion (USD 533 million) domestically through its first Sukuk issuance.

Why it Matters?

ADC was able to increase the size of its issuance from SAR 1.6 billion (USD 426 Million) due to high interest from several investor groups for the transaction, making a final order booked of more than SAR 5.5 billion (USD 1.46 Billion). According to Ali Alghamdi, Managing Director of ADC, the energy market in its current state is ideal for growth opportunities and the issuance was designed to increase awareness of ADC’s operational and financial track record to the wider market.

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