Almarai to issue sukuk worth SAR 2 bln

18/08/2015 Argaam

Almarai Co., the Gulf region’s largest dairy producer, plans to issue sukuk worth up to SAR 2 billion to help finance its investment program.

 

The riyal-denominated sukuk will be sharia compliant and will be offered to local investors, the Saudi Arabian company said in a statement on Tuesday.

 

The sukuk will be issued as part of the company’s strategy to help finance its SAR 21 billion investments between 2016 and 2020, Almarai said.

 

The company said that its total sukuk issuances will equal its share capital of SAR 6 billion, as decided in its extraordinary general meeting in Sept. 2013.

 

Almarai has mandated HSBC Saudi Arabia Ltd. and Samba Capital & Investment Management Co. to act as joint lead managers.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.