Saudi Arabia’s Raya Financing Company has drawn fresh capital from the market, securing 300 million riyals (about $80 million) through an Additional Tier 1 (AT1) sukuk offering that carries an 8.5% annual return.
The Shariah-compliant instrument is structured as perpetual, reinforcing the company’s capital base rather than functioning like a conventional bond with a fixed maturity. Investors will receive quarterly distributions, and the sukuk may be called after five years — and on any distribution date thereafter — should the issuer opt to redeem it.
The issuance forms part of Raya’s broader SAR 500 million AT1 Capital Sukuk Programme, signalling a phased approach to capital raising rather than a one-off market outing.
Financial advisory and sole arranging duties were handled by Impact46. The sukuk has been admitted to trading on Saudi Exchange (Tadawul), offering secondary market access to investors.
Raya holds a BBB- (Sau) rating from Fitch, positioning the issuance within the lower tier of investment-grade territory in the domestic market.
