The Saudi Real Estate Refinance Company Issues SAR-denominated Sukuk Worth SAR 3 Billion under its Newly Upsized Sukuk Programme 

The Saudi Real Estate Refinance Company Issues SAR-denominated Sukuk Worth SAR 3 Billion under its Newly Upsized Sukuk Programme 

https://islamicmarkets.com/articles/the-saudi-real-estate-refinance-company-issues-sar-denominated-sukuk-worth
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The Saudi Real Estate Refinance Company (SRC), the Public Investment Fund's (PIF) wholly owned subsidiary, has announced the issuance of SAR 3 billion (USD 800 million) worth of Sukuk denominated in the Saudi riyal, as part of its recently upsized Sukuk programme, as per a statement by the entity on the 11th of October 2022.

Why it Matters?

The issuance represents the fifth in the series under the programme and has a 10-years tenor offered at a fixed profit rate. The SRC will use the funds raised to support originators, financiers, and improve market liquidity, which will stabilise the Saudi mortgage market and hasten the expansion of home ownership in the country.

Details

The SRC has recently increased the overall si...