Al-Rajhi Cement raises US$119mn

Published: April 26, 2011

Company issues Jordan’s first sukuk.

The Jordanian subsidiary of Dubai’s Al-Rajhi Cement has secured JD85mn (US$119mn) through the first sukuk issuance in Jordan.

The seven-year issuance was managed by Jordan-based Capital Investments and was subscribed for by Islamic and commercial banks including Capital Bank, Cairo Amman Bank, Islamic International Arab Bank, Union Bank, Jordan Kuwait Bank, Bank of Jordan and Arab Islamic Bank.