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Saudi dairy firm Almarai sells $347mln Islamic bond

Posted on 02 April 2013

Saudi Arabian dairy and food producer Almarai Co has completed the sale of a SAR1.3 billion ($346.7 million) Islamic bond, or sukuk, the company said in a bourse filing on Monday. The issue, which has a floating interest rate and a 7.5-year lifespan, attracted orders worth SAR2.4 billion from institutional investors inside Saudi Arabia, the statement said. The interest rate was not specified.
It is the second local currency sukuk from the Gulf’s largest dairy firm – it sold a SAR1 billion offering in March 2012. Both deals form part of the same SAR2.3 billion sukuk programme………………………………………..Full Article: Source

 
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