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 commencement of the offering and subscription period for the sukuk of Bidaya Finance Company to both individual and institutional investors.
Issuance Details
| Issuer | Bidaya Finance Company |
|---|---|
| Sukuk programme size | SAR 1,000,000,000 |
| Type of sukuk | Senior unsecured |
| Structure | Mudaraba / Murabaha |
| Currency | Saudi Riyal (SAR) |
| Issuer rating | BBB- on the local scale by Fitch Ratings |
| Offering type | Public offering |
| Tradability | Listed and tradable on the Sukuk and Bonds Market of Tadawul |
| Target investors | Individuals and institutions |
| Expected issuance size | SAR 200,000,000; final amount to be determined upon completion of the offering |
| Annual return | 7.1%, payable quarterly |
| Tenor | 3 years; the company may not redeem the sukuk prior to maturity |
| Redemption | At 100% of the aggregate face value of the series at maturity |
| Face value and issue price per sak | SAR 1,000 |
| Minimum subscription | Five sukuk, with a total nominal value of SAR 5,000 |
| Subscription period | Sunday 8 March 2026 to Tuesday 10 March 2026 |
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
Source: announcement on Tadawul
About Merchants Capital
Merchants Capital, the trademark of Darb Altujjar Financial Company, a Saudi capital market institution authorized by the Capital Market Authority (CMA) under license no. 18197-30, provides strategic investment banking services across debt and equity capital markets, project finance, and mergers & acquisitions, enabling corporates and government-related entities to secure capital and achieve their strategic objectives.
All news, announcements or insights are for information purposes only and do not constitute an offer, invitation or recommendation to buy, sell or subscribe for any securities. Public-related disclosures are published on Tadawul.