Saudi Arabian Airlines hires HSBC to arrange $1.3bn sukuk

National carrier says the sukuk will be sold in the second half of this year
Saudi Arabian Airlines hires HSBC to arrange $1.3bn sukuk
Saudi Arabian Airlines (Saudia)
By Reuters
Mon 25 Apr 2016 03:43 PM

National carrier Saudi Arabian Airlines (Saudia) has appointed HSBC as the lead arranger for a 5 billion riyal ($1.3 billion) sukuk issue, its director general said on Monday.

The sukuk would be sold in the second half of the year, Saleh al-Jasser told reporters.

Jasser said last month that the sukuk offering would finance fleet expansion, with the carrier aiming to operate 200 aircraft by 2020.

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