Riyadh-Based Rawasi Albina Announces Public Offering of $133 Million Debt Instruments

Rawasi Albina Investment Company, a Riyadh-based contractor, plans to issue up to SAR 500 million ($133 million) in debt instruments. The move, part of its debt issuance programme, has received approval from Saudi Arabia’s Capital Market Authority (CMA). A prospectus will be released before the subscription period begins.

The company, serving clients like Saudi Electricity Company, stc, and National Water Company, specialises in electrical contracting, telecom consulting, and construction services. It holds a “BBB” long-term entity rating with a stable outlook from Financial Analytics (Rating).

Debt capital markets in the GCC are expected to expand in the coming years, driven by government projects, maturing debt, and economic diversification goals, according to Fitch Ratings.

Source: Zawya