Saudi Arabian dairy and food producer Almarai Co plans to issue the second tranche of a riyal-denominated Islamic bond programme in the coming months to private investors, the company said in a bourse on Monday.
The Gulf’s largest dairy firm raised 1 billion riyals ($266.6 million) through the first tranche in March in a deal which was 4.7 times oversubscribed. “This second tranche of sukuk will be a private offering to sophisticated investors resident in the Kingdom of Saudi Arabia,” the company statement said………………………………………..Full Article: Source