GCC companies lead early sukuk moves in 2024

GCC companies lead early sukuk moves in 2024

Saudi Arabia’s largest healthcare provider has announced plans to issue a riyal-denominated sukuk as analysts predict that $170 billion of the sharia-compliant bonds will be issued this year. Middle East Healthcare Company, the parent of Saudi German Health, said in a filing to the Saudi Stock Exchange that the offering size would be determined later, […]

Bond from Saudi German Health parent

Offering size to be determined later

$170bn issuance forecast for 2024

Saudi Arabia’s largest healthcare provider has announced plans to issue a riyal-denominated sukuk as analysts predict that $170 billion of the sharia-compliant bonds will be issued this year.

Middle East Healthcare Company, the parent of Saudi German Health, said in a filing to the Saudi Stock Exchange that the offering size would be determined later, subject to market conditions.

On Monday the company published a prospectus for a sukuk sale worth SAR1.5 billion ($400 million) after gaining approval from regulators last month.

Dubai’s GII invests $160m in Saudi medical group

Late-year flurry could boost the sukuk market

Strong upsurge in UAE green sukuk ahead of Cop28

Fitch Ratings predicts that the global value of the sukuk market will surpass $1 trillion in the medium term, having reached $850 billion at the end of 2023 despite “geopolitical