Saudi real estate conglomerate ROSHN Group has secured a syndicated credit facility amounting to SR 9B ($2.4B) as part of its expansion strategy across the Kingdom.
This unsecured revolving credit facility, set for a five-year term, plays an integral role in ROSHN’s funding strategy, backed by the Public Investment Fund (PIF), and aims to serve general corporate purposes.
In terms of Saudi real estate expansion, the arrangement involved Saudi National Bank, Arab National Bank, and Riyad Bank acting as book runners and mandated lead arrangers. Bank Al Bilad and Alinma Bank served as Lead Arrangers, with Saudi Awwal Bank acting as Arranger.
Avinash Pangarkar, Group Chief Financial Officer of ROSHN Group, stated: “This syndicated credit facility underscores the market’s confidence in both ROSHN and the real estate sector in the Kingdom.
“Our banking partners are enthusiastic about the advancements we are making in our projects across the Kingdom, as we aim to contribute to the objectives of Vision 2030. ROSHN will utilise these funds over the coming years to advance our development strategy.”
