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- Saudi Arabia surpasses $1bn sukuk milestone with May issuance
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04/12/2014 07:52 AST
Marafiq, a utility services provider to two industrial cities in Saudi Arabia, has signed a SR2.5 billion ($666.1 million) Islamic loan, which will partly be used to expand capacities in its existing projects, it said in a statement on Wednesday.
The new long-term facility was arranged by HSBC's Saudi Arabian arm, the statement said, without revealing the tenor and pricing of the transaction. The company, which counts Saudi Basic Industries Corp. and Saudi Aramco as shareholders, will use the murabaha-structured facility for capacity expansion plans in different projects located in Jubail and Yanbu. A murabaha is a cost-plus-profit arrangement which is one of the most popular formats for structuring Islamic loans. Al-Rajhi Bank, National Commercial Bank, Riyad Bank, Samba Financial Group and Saudi British Bank joined the facility, the statement said.
Marafiq's last fundraising was its debut SR2.5 billion sukuk in 2013, and its previous syndicated murabaha facility transaction was for SR4.5 billion, which completed in 2012.
Arab News
01/06/2014
The Power and Water Utility Company for Jubail and Yanbu (Marafiq) is to build its new head office in the Jubail Industrial City. The company recently concluded a construction agreement with Azmeel C
Arab News
13/06/2013
The Power and Water Utility Company for Jubail and Yanbu (Marafiq) has signed a deal with French Sidem and Sidem Saudi Arabia, both affiliated to Veolia Water Company, whereby the latter will underta
Arab News
28/09/2012
Saudi Arabia's Power and Water Utility Company for Jubail and Yanbu, known as Marafiq, signed contracts for two projects in Jubail that include a reverse osmosis desalination plant, a section of the
Saudi Gazette
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| TAQA | 3.16 | 0.02 (0.63 |
| ACWAPOWER | 286.60 | -4.00 (-1.38 |
| DEWA | 2.67 | -0.05 (-1.84 |
| SAUDIELECTRICITY | 14.28 | -0.06 (-0.42 |
| EMPOWER | 1.57 | -0.02 (-1.26 |
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AD Ports Group, a leading facilitator of global trade, logistics, and industry, has signed a Head of Terms Agreement with Advario, a leading global provider of tank storage and infrastructure solutio
Trade Arabia
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Commercial Bank has partnered with Qatar Airways Privilege Club to reward Commercial Bank customers with bonus Avios for international transfers made through the CBQ Mobile App and Internet Banking.
Gulf Times
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e& UAE has rolled out the region's first commercial 5G network slicing service, offering tailored connectivity to business customers via its advanced standalone 5G network.
The launch marks
Gulfnews
21/05/2025
Saudi Awwal Bank (SAB), one of the leading banks in the Kingdom of Saudi Arabia and HSBC, the global banking and financial services organisation, have together been awarded the Middle East and Asia C
Saudi Gazette
21/05/2025
Hana Al Rostamani, Group CEO at First Abu Dhabi Bank, has been ranked as the most powerful woman in business in the GCC, according to Fortune magazine's latest list.
Along with Al Rostamani,
Khaleej Times
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