Rawabi Holding’s Vallianz Offshore Services Issues its First Sukuk

Rawabi Vallianz Offshore Services (RVOS), an equally-owned joint venture between Rawabi Holding and Vallianz Holdings Limited, has appointed Alinma Investment Co., Saudi Fransi Capital, Saudi Hollandi Capital and GIB Capital LLC as Joint Lead Managers and Book-Runners for its first issuance of a SAR 1 Billion Shariah – compliant Sukuk. The Sukuk were sold through a private placement to sophisticated investors in full and are to be used to partially finance the marine assets of RVOS over a period of five years.

Sheikh Abdulaziz AlTurki, Rawabi Holding Group Chairman nd Chairman of Rawabi Vallianz, emphasized on this important event as a first for the company and said: "Sukuk have become a prominent financing product in the world nowadays. The issuance of these Sukuk through financial institutions and investment funds are traded while abiding to specific rules and laws that follow such types of funding.”  

"Sukuk are considered imperative funding channels used to provide the required liquidity to finance projects at an acceptable cost, paving the way for other means of funding through financial and non-financial institutions and individuals thus leading to an expansion in the finance base, a reduced pressure on the banks’ monetary liquidity and a healthy support for the national economy.” He then added. “It also provides protection for the investors by empowering them with the ability to diversify risks through providing calculated risk investment tools and a positive cycle of return on investment.”

It is worth mentioning that Rawabi Holding brings together a significant experience of three decades in providing a diversified range of products and services in the fields of oil and gas, petrochemicals, engineering and construction, power and manufacturing in the Kingdom of Saudi Arabia and the Middle East. 

Rawabi Holding’s partner, Vallianz Holdings Limited, an established provider of offshore support vessels and integrated marine solutions to the oil and gas industry, celebrated this solution of RVOS “Vallianz is excited to have been part of this innovative financing structure and that the issuance of the Sukuk is a testament of the good working relationship with various partners in the Middle East” stated Vallianz CEO, Mr. Ling Yong Wah. 

Rawabi Vallianz specializes in offering marine services and solutions such as Offshore Engineering and Construction Services, Supply Anchor Handling Tug Support & Safety vessels (AHTSS), Platform Supply Vessels (PSV), Accommodation Barges, Utility Boats, Offshore Well-testing Jack-ups, Offshore Floating Storage & Support Vessels (OFSSV), and Subsea pipe and cable laying. 

Rawabi Vallianz Offshore Services has recently celebrated the graduation of the second batch of Saudi Marine Officers and Engineers who have completed a higher level of training programs that made them eligible for leading positions in the company as part of Rawabi Holding’s Corporate Social Responsibility, which aims to empower Saudi youth by providing them with the necessary skills and expertise to excel in their careers and by doing so, to contribute to the economic development of Saudi Arabia.