Saudi Real Estate Refinance Company Announces Completion of Pricing of Sukuk Worth $2.75 Billion

Logo of Saudi Real Estate Refinance Company - SRC

The Saudi Real Estate Refinance Company (SRC), a Public Investment Fund company, announced the completion of pricing of the third issuance of international sukuk guaranteed by the Government of the Kingdom of Saudi Arabia, with a total value of $2.75 billion. According to SPA, the sukuk were distributed in two tranches: the first worth $1.25 billion with a maturity of 5.5 years, and the second worth $1.50 billion with a maturity of 10 years. The subscription demand reached 6.8 times the offering value. The company also announced an increase in the size of its international sukuk program, listed on the International Securities Market (ISM) of the London Stock Exchange and backed by a government guarantee, from $5 billion to $10 billion. It is worth noting that the Saudi Real Estate Refinance Company launched its international sukuk program in February 2025, with a total value of $5 billion, and successfully completed the first issuance under the program worth $2 billion distributed in two tranches with maturities of 3 years and 10 years. During the same year, it also completed a second issuance worth $2.5 billion in two tranches with maturities of 3.5 years and 10 years.

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