Saudi Arabia’s Maaden Raises $1.25 Billion to Fund Mining Growth
- About half the demand for offering came from US investors
- Company mounting $12 billion investment drive over five years
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Saudi Arabian Mining Co., commonly known as Maaden, has raised $1.25 billion from its debut Islamic bond sale as the company looks to fund a huge expansion program over the next five years.
Maaden attracted over $10 billion in offers from investors for the sukuk, which was split between $750 million maturing in 2030 and $500 million maturing in 2035.