Dubai-based Al-Rajhi Cement Holding said the company has issued JD85 million ($119 million) Islamic bonds for its unit in Jordan which are being managed and arranged by Capital Investments. A premier investment bank based in Jordan, Capital Investments, said the seven-year sukuk was subscribed for by a number of leading Islamic and commercial banks. These include Capital Bank, Cairo Amman Bank, Islamic International Arab Bank, Union Bank, Jordan Kuwait Bank, Bank of Jordan, and Arab Islamic Bank, said a company statement. Al-Rajhi Cement Jordan was established as a private shareholding company in 2006 and is wholly owned by Al-Rajhi Cement Holding, which is registered in the Dubai International Financial Centre. Capital Investments announced the key transaction at a ceremony which was attended by Al-Rajhi Cement Jordan chairman Omar Bin Sulaiman Al-Rajhi and Central Bank of Jordan Governor Faris Sharaf, alongside executives of the participating banks.
