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Financials

Saudi Arabian Airlines appoints HSBC to arrange 5 bln riyal sukuk - exec

DUBAI, April 25 (Reuters) - National carrier Saudi Arabian Airlines (Saudia) has appointed HSBC as the lead arranger for a 5 billion riyal ($1.3 billion) sukuk issue, its director general said on Monday.

The sukuk would be sold in the second half of the year, Saleh al-Jasser told reporters.

Jasser said last month that the sukuk offering would finance fleet expansion, with the carrier aiming to operate 200 aircraft by 2020.

$1 = 3.7498 riyals Reporting By Matt Smith; Writing by Tom Arnold; Editing by David French

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