HSBC's Saudi Arabian unit has been selected to organize the roadshows, which could lead to a privately-placed transaction, according to a statement published late on Monday. 

A number of Saudi entities have priced their first local currency sukuk this year as interest in the country's debt market grows on the back of high investor liquidity and a desire to diversify funding sources away from bank loans. 

The largest of these was a SR15-billion ($4 billion) trade from the General Authority for Civil Aviation (GACA) in January. Diary firm Almarai Co. and AJIL Financial Services Company completed deals worth SR1 billion and SR500 million in March and April, respectively.