Almarai plans to issue USD-denominated sukuk

08:47 AM (Mecca time) Argaam
Almarai Co.logo

Almarai Co. logo

Almarai Co. plans to offer USD-denominated sukuk under its $2 billion Trust Certificate Issuance Program, updated by the company on Sept. 15, according to a statement to Tadawul.

 

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The issuance value will be determined later based on market conditions at that time.

 

The move aims to fulfill general corporate purposes as detailed in the base offering circular prepared by Almarai in relation to the program.

 

Almarai hired Citigroup, Dubai Islamic Bank, Emirates NBD, HSBC, JP Morgan, and Standard Chartered Bank as joint lead managers for the offering.

 

The offer will be subject to the approval of the relevant regulatory authorities and will be in compliance with applicable laws and regulations.

 

The dairy producer will announce any material developments in due course.

 

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