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 Reuters
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)