PIF-owned SRC launches its second domestic RMBS offering
Saudi Real Estate Refinance has launched a second domestic RMBS deal backed by an estimated SAR 420 million residential mortgage portfolio.
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what happened
Saudi Real Estate Refinance Company (SRC), a company owned by Saudi Arabia’s Public Investment Fund (PIF), has brought its second domestic residential mortgage-backed securities (RMBS) deal to market, Newsmetry API reports, citing SRC.
The transaction is backed by an estimated residential mortgage portfolio worth SAR 420 million ($112 million). It is SRC’s first domestic RMBS issuance to receive published credit ratings: Aaa.sa (sf) from Moody’s and AAAsf(sau) from Fitch.
“Fitch expects low credit losses for the transaction” after reviewing SRC’s historical book data and the portfolio’s characteristics, the rating agency said.
why it matters
The deal highlights the continued use of residential mortgage securitisation in Saudi Arabia. Published ratings from Moody’s and Fitch provide a reference point for assessing the issuance’s credit quality without changing its stated size or structure.
instruments
sources
- PIF unit Saudi Real Estate Refinance rolls out new residential mortgage-backed securities — Newsmetry API, 13 October 2026 at 05:27 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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