iOud closes $13.3M sukuk issuance with 179% oversubscription
What's the deal? Saudi-based iOud has completed a SAR 50M ($13.3M) sukuk issuance, attracting strong investor demand with a coverage ratio of 179.4%. The issuance was significantly oversubscribed, signalling robust appetite for the company's Islamic bonds.
Why now? The sukuk market in Saudi Arabia continues to grow as the kingdom diversifies its financial ecosystem under Vision 2030. Islamic finance instruments like sukuk are increasingly popular among both issuers seeking Sharia-compliant funding and investors looking for exposure to the region's expanding capital markets.
The signal: A nearly 180% coverage ratio on a relatively modest issuance underscores growing institutional appetite for sukuk as an asset class in Saudi Arabia. As the kingdom deepens its capital markets infrastructure under Vision 2030, oversubscribed deals like this suggest that Sharia-compliant instruments are becoming a mainstream funding route — a trend likely to draw more companies seeking alternatives to conventional debt.
Read more: argaam.com
