The CEO of the Saudi Real Estate Refinance Company (SRC), Fabrice Susini, revealed the company’s intention to go to the global debt markets this year, after it issued more than 30 billion riyals of debt in the local markets.
Susini said in an interview with Al-Arabiya that the year 2023 will bear great challenges, as the fixed-income market environment is affected by the continued rise in interest rates.
He explained that the company’s focus will be on two goals: “On the one hand, to keep working on finding financing solutions to help borrowers to own a home, so the company will search for existing solutions and options to keep borrowing available and cheap despite the global environment of high interest, indicating that the solution is through research, development, thinking and consulting all Stakeholders to help borrowers, on the one hand.”-
As for the second goal, which is the most important, according to Susini, it is the issue of liquidity and refinancing, noting that during the past five years and during the past eighteen to 24 months, the company has issued 30 billion riyals of debt instruments in the local market.-
He added, “Our focus this year will be on the global market, as we are working on the financial closure of our debt program, and we hope that we will be able very soon to issue debt instruments for the global financial market to increase our access to the various types of local and international investors that we have reached as well.”