Saudi Arabia’s Rawabi Holding Co. has successfully raised a substantial amount of 1.2 billion riyals ($320 million) from its largest ever riyal-denominated sukuk issuance, which draws attention to the continued expansion and investor confidence in Gulf debt markets. The recent upsizing of the sukuk issuance reveals a strong investor appetite, surpassing the company’s previous record of SAR 875 million set in 2023. Rawabi Holding, a company with a strategic focus on oilfield services, has been actively involved in structured Islamic financing since the establishment of its sukuk program in 2020. Over the course of the program, the company has issued an aggregate amount of approximately SAR 6.5 billion through 18 tranches while redeeming seven tranches totaling approximately SAR 2.9 billion—highlighting a proactive approach to capital management and investor relations. In this latest transaction, a cohort of financial institutions including Albilad Capital, Alinma Investment Company, Al Rajhi Capital, and Riyad Capital functioned collaboratively as joint lead managers and bookrunners. The legal intricacies and advisory responsibilities were handled by Simmons & Simmons Middle East LLP. This strategic financing move by Rawabi Holding underlines the robust Sharia-compliant funding mechanisms in the region and the evolution of Saudi Arabia’s debt capital market towards increased sophistication and diversification. The collaborative approach in this upsized issuance demonstrates the strong positioning of advisory and capital management firms in orchestrating and successfully closing substantial deals in the Middle Eastern markets.

Financial Services, Oil & Gas, Legal Services,Saudi Arabia