Almarai raises SAR 1.6 bln from sukuk issue

17/09/2015 Argaam

Almarai, one of Saudi Arabia’s largest dairy producers, completed on Wednesday a SAR 1.6 billion sukuk issue, it said in a statement.

 

The sukuk, which had a floating rate coupon, has a lifespan of seven years and was offered to professional investors in the kingdom.

 

The company said last month that it would raise SAR 2 billion from the offering, which would be arranged by Samba Capital and HSBC Saudi Arabia.

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