RIYADH: The Public Investment Fund on Thursday announced the pricing of a $1.25 billion sukuk offering, with the proceeds of the dollar-denominated offering to be used for PIF’s general corporate purposes.
The seven-year sukuk was more than 6.5 times oversubscribed, with orders exceeding $9 billion, according to a media statement.
The sukuk will be listed on the London Stock Exchange’s International Securities Market as part of PIF’s international sukuk issuance program.
Ahmed Alrobayan, head of public markets, global capital finance, at PIF, said: “The strong investor demand for this new sukuk offering underscores PIF’s robust credit profile, along with its role as a key driver of Saudi Arabia’s economic transformation.”
The transaction represents a continuation of the established and diversified financing strategy, which draws strong support from international investors, Alrobayan said.
PIF’s long-term capital-raising strategy includes a diverse range of instruments, including sukuk and bond programs.
PIF has completed its inaugural murabaha credit facility since earlier this year, and last August renewed a revolving credit facility.
PIF is rated Aa3 by Moody’s with a stable outlook, and A+ by Fitch, also with a stable outlook.
PIF announces pricing of $1.25bn international sukuk offering
https://arab.news/28gph
PIF announces pricing of $1.25bn international sukuk offering
- The sukuk will be listed on the London Stock Exchange’s International Securities Market
- PIF’s Ahmed Alrobayan said: ‘The strong investor demand for this new sukuk offering underscores PIF’s robust credit profile’
Saudi POS spending jumps 28% in final week of Jan: SAMA
RIYADH: Saudi Arabia’s point-of-sale spending climbed sharply in the final week of January, rising nearly 28 percent from the previous week as consumer outlays increased across almost all sectors.
POS transactions reached SR16 billion ($4.27 billion) in the week ending Jan. 31, up 27.8 percent week on week, according to the Saudi Central Bank. Transaction volumes rose 16.5 percent to 248.8 million, reflecting stronger retail and service activity.
Spending on jewelry saw the biggest uptick at 55.5 percent to SR613.69 million, followed by laundry services which saw a 44.4 percent increase to SR62.83 million.
Expenditure on personal care rose 29.1 percent, while outlays on books and stationery increased 5.1 percent. Hotel spending climbed 7.4 percent to SR377.1 million.
Further gains were recorded across other categories. Spending in pharmacies and medical supplies rose 33.4 percent to SR259.19 million, while medical services increased 13.7 percent to SR515.44 million.
Food and beverage spending surged 38.6 percent to SR2.6 billion, accounting for the largest share of total POS value. Restaurants and cafes followed with a 20.4 percent increase to SR1.81 billion. Apparel and clothing spending rose 35.4 percent to SR1.33 billion, representing the third-largest share during the week.
The Kingdom’s key urban centers mirrored the national surge. Riyadh, which accounted for the largest share of total POS spending, saw a 22 percent rise to SR5.44 billion from SR4.46 billion the previous week. The number of transactions in the capital reached 78.6 million, up 13.8 percent week on week.
In Jeddah, transaction values increased 23.7 percent to SR2.16 billion, while Dammam reported a 22.2 percent rise to SR783.06 million.
POS data, tracked weekly by SAMA, provides an indicator of consumer spending trends and the ongoing growth of digital payments in Saudi Arabia.
The data also highlights the expanding reach of POS infrastructure, extending beyond major retail hubs to smaller cities and service sectors, supporting broader digital inclusion initiatives.
The growth of digital payment technologies aligns with Saudi Arabia’s Vision 2030 objectives, promoting electronic transactions and contributing to the Kingdom’s broader digital economy.
