Saudi Civil Aviation Hires HSBC, NCB, StanChart for Sukuk
18 Jun 2013 07:24 GMT
 
Saudi Arabia's General Authority of Civil Aviation, which raised 15 billion riyals ($4 billion) from Islamic bonds sale last year, hired three banks f (more)

Saudi Arabia's General Authority of Civil Aviation, which raised 15 billion riyals ($4 billion) from Islamic bonds sale last year, hired three banks for another local-currency offering, a banker familiar with the matter said.

The Saudi Arabian affiliate of HSBC Holdings Plc (HSBA), National Commercial Bank's investment banking unit and Standard Chartered Plc will manage the sukuk sale, according to the banker, who asked not to be identified because the information is private. NCB Capital and Standard Chartered bid jointly for the mandate.

A spokesman for the authority known as GACA, who asked not to be identified because of company policy, confirmed that banks have been hired for a sukuk sale. He declined to specify how much the authority sought to raise.


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