Bank Al Jazira / Ajil Financial Services / Alinma Bank
Financial Institutions
$800MN Perpetual Sukuk Financing
Arkad Engineering & Construction
Oil & Gas EPC Contractor
Lead arranger for the issuance of Perpetual Sukuk financing
Arkad Engineering & Construction received $800MN Perpetual Sukuk Financing
Haykala (IMAP Saudi Arabia) acting as lead arranger on the issuance of perpetual sukuk with CMA. Under the restructuring plan, Arkad restructured 100% of its debt amounting to $800 million through a mixture of the perpetual sukuk and murabaha loan facilities, and repayment of the dues it owes to government entities and employees.
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