Saudi property Refinance Co (SRC) was assigned an’A’ credit score Fitch Ratings before a projected issuance of bondsan executive told Saudi television station Al Arabiya on Monday.

SRC intends to issue around $ 1billion in sukuk, or Islamic bonds,” until the close of the calendar year, its own manager of treasury and international capital markets told Al Arabiya.

The business, which will be owned by autonomous fund the Public Investment Fund, includes a portfolio of loans of 6.5 billion riyals ($1.73 billion) in the end of 2020,” Al-Arabiya said in a written report.

the organization intends to have 20{4298251308cd288b939effe95b4c029e39df70679b4587e1449e43e4b08368d8} marketshare of Saudi Arabia’s real estate loans from 2025,” Al Arabiya reported.

Last month,” SRC sold 4 billion riyals at a two-tranche personal positioning of sukuk, ensured by the Saudi fund ministry. The business said that it intended to issue between $500 million and $1 billion in bonds at the close of this calendar year, likely with a tenor of between 10 and 12 decades.