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Saudi civil aviation authority mulls sukuk issue

The first tranche of the sukuk would be worth $1.20 billion.

January 12, 2011 4:09 by



Saudi Arabia’s civil aviation authority is eyeing sale of Islamic bonds, or sukEk, in several tranches to finance a modernisation of the kingdom’s airports, its top executive said on Wednesday.

The first tranche of the sukuk would be worth 4.5 billion riyals ($1.20 billion), Abdullah al-Rahimi told Al Arabiya television.

(Reporting by Marwa Rashad; Editing by Dinesh Nair)



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