The construction and real estate SAAD Group will price its five-year benchmark sized Sukuk at 80 to 85 basis points above the London Interbank Offered Rate (LIBOR). The Sukuk, which has been rated BBB+ by Standard & Poor’s and Baa by Moody’s, will be backed by land leased in Saudi Arabia to Golden Belt, the bond’s issuers. BNP Paribas is arranging the Sukuk. SAAD Group is 90% owned by tycoon Maan Al-Sanea and 10% owned by his wife Sana Al-Gosaibi.