Almarai Co has completed the issuance of a $500 million worth of fixed-rate RegS Senior unsecured sukuk at a par value of $200,000, the company said in a bourse filing on Wednesday.

 

The dairy producer issued 2,500 Islamic bonds bearing a return of 4.311 percent.

 

The five-year sukuk will be fully redeemed upon maturity date, Almarai added.

 

Sukuk Details

Issuer

Almarai Co.

Issuance type

Fixed-rate RegS Senior unsecured sukuk

Issuance size

$500 mln

Total number of sukuk

2,500

Par value

$200,000

Maturity

Five years

Redemption conditions

Full redemption upon maturity date

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