STAT is pleased to announce its role in advising Al Khair Capital Saudi Arabia Company as Sole Arranger, Dealer, and Financial Advisor in connection with the SAR 500,000,000 Sukuk Issuance Programme for Rawasi Al Bina Investment Company. This landmark programme has now received approval from the Capital Market Authority (CMA) and is among the first public Sukuk programmes to be approved under the new version of the Rules on the Offer of Securities and Continuing Obligations.

This achievement reflects STAT’s expertise in advising on complex and high-profile debt capital market and Islamic financing transactions. The team advising on the transaction was led by partners Faris Al Amoudi and Zeyad Y. AlSalloum, with lead Associates Liaan AlFayadh and Omar Alsughaiyer, as assisted by Associate Naif Alharbi and Trainee Associate Sultan Albadi.

STAT’s team members have extensive experience in landmark debt capital markets transactions for Saudi issuers and arrangers, including advising: (i) Saudi Aramco on the establishment of its first SAR 37.5 billion Sukuk Issuance Programme and its debut SAR 11.25 billion Sukuk issuance thereunder, (ii) Saudi Real Estate Refinance Company on the establishment of its Sukuk Issuance Programme and its debut issuances of SAR 150 million Sukuk due 2023, SAR 50 million Sukuk due 2025, and SAR 50 million Sukuk due 2028, (iii) the Arrangers and Dealers on the establishment of the Global Sukuk Programme of the Kingdom of Saudi Arabia (acting through the Ministry of Finance) and the issuances thereunder; (iv) Bank AlJazira on the issuance of its Tier 2 Sukuk worth SAR 2 billion and (v) Bank AlJazira on the issuance of its Additional Tier 1 Sukuk worth SAR 2 billion.