DUBAI: Saudi Arabia’s main airline said it is planning to sell as much as 5 billion riyals (US$1.3bil) of Islamic bonds in the second quarter to refinance loans and buy planes, becoming the latest issuer in the kingdom to tap debt markets for cash amid an oil slump.
The carrier known as Saudia is in negotiations with local banks to oversee its first-ever bond offering, Saleh Al Jasser, Saudi Arabian Airlines director-general said in an interview at the Sakhir airbase during the Bahrain air show last Friday.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
