| HSBC announced that it has helped arrange the first ever sukuk program in Saudi Arabia. The program was set up for Almarai Company for an amount up to the size of its paid up capital. HSBC also assisted Almarai in the debut issuance under this newly established program, in an amount of SR1 billion ($267 million), with further issuance expected in the future.
A sukuk program effectively allows a company to raise money by launching sukuk into the market quickly and efficiently, and is ideal for issuers intending to access the market frequently and flexibly...............................................Full Article: Source |