Saudi Leasing Company

completed

The project consists of structuring and partially guaranteeing the first corporate term note in Saudi Arabia. The note will be issued by SOLC which will use the term borrowings to finance the growth of its leasing portfolio. This will be the first bond ever issued in Saudi Arabia, and the first paper of its kind for a non-bank financial institution. The project will have a strong demonstration effect for the development of capital markets and bond issues in the country. The project is strongly supported by the Saudi Arabian Monetary Agency (SAMA) the country''s Central Bank and IFC is working closely with SAMA to support SAMA''s objective of promoting local bond issues. IFC’s guarantee will assist the company in obtaining term funding, otherwise not available in the market and will emphasize IFC’s role as a neutral partner assisting in the structuring this multi-party risk exposure.