Almarai redeems SAR 1.6 bln sukuk ‘series V’ in full

Almarai headquarters

Almarai Co. redeemed its SAR 1.6 billion sukuk – series V on Sept. 16, the company said in a bourse statement.

The sukuk par value at redemption is SAR 1 billion, with a total issuance value after redemption of SAR 1.6 billion for 1,600 sukuk.

The issuance was made on Sept. 16, 2015, while the trading end date and date of depositing the amounts in the bonds/sukuk holders accounts was Sept. 16, 2022, the statement added.

The financial impact of this transaction will appear in the financial results of the third quarter 2022.

On Sept. 16, 2015, Almarai completed a SAR 1.6 billion sukuk issue with a lifespan of seven years and a floating rate coupon, according to data compiled by Argaam.