SAL Saudi Logistics plans sukuk to expand cargo capacity

SAL Saudi Logistics Services is preparing to raise funds by issuing a Saudi riyal-denominated sukuk through a private placement, as it looks to scale up its logistics capacity over the remainder of the decade. The Saudi-listed company, known for its cargo handling and logistics work at airports across the Kingdom of Saudi Arabia stated the sukuk will be offered to both local and international investors. JP Morgan Saudi Arabia and SNB Capital have been appointed to manage the process and lead discussions with investors.