Merchants Capital, in its capacity as Lead Financial Advisor and Co-Lead Arranger, and impact46, in its capacity as Lead Arranger and Co-Financial Advisor, announce the completion of the first issuance of Bidaya Finance Sukuk with an aggregate value of SAR 200,000,000, carrying a fixed annual profit rate of 7.1% with quarterly distributions, and a maturity of three years from the date of issuance.
Issuance Results
| Issuer | Bidaya Finance Company |
|---|---|
| Sukuk programme size | SAR 1,000,000,000 |
| Aggregate value | SAR 200,000,000 |
| Profit rate | 7.1% fixed per annum, paid quarterly |
| Maturity | Three years from the date of issuance |
| Allocation to institutional investors | 100% of subscriptions |
| Allocation to individual investors | No less than 75% of subscriptions |
As the subscription volume exceeded the target issuance size, institutional investors were allocated 100% of their subscriptions and individual investors were allocated no less than 75% of their subscriptions.
The Dealer has notified the receiving entities to refund the excess amounts to subscribers who were not allocated their full subscription. The refund will be processed by each receiving entity upon completion of its internal procedures. The sukuk will be listed and traded following the completion of all relevant regulatory procedures.
Transaction Milestones
- 29 Sep 2025 CMA Approval of the Debt Instruments Programme View on CMA website
- 4 Mar 2026 Intention to Float View on Tadawul
- 8 Mar 2026 Commencement of the Offering Period View on Tadawul
- 15 Mar 2026 Completion and Allocation
Source: announcement on Tadawul
