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Saudi’s Almarai raises $267 mln from debut sukuk | ASHARQ AL-AWSAT English Archive 2005 -2017
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JEDDAH, Saudi Arabia, (Reuters) – Saudi Arabia’s Almarai Co, the Gulf’s biggest dairy firm by market value, raised 1 billion riyals ($266.6 million) through a sukuk, or Islamic bond, issue on March 7, the firm said in a bourse statement on Sunday.

“Almarai successfully issued sukuk for 1 billion riyals on March 7, 2012. The orders reached 4.7 billion riyals, 4.7 times oversubscribed,” the statement said.

It is the first time that Almarai has issued public debt, having begun roadshows for the offering last month.

HSBC Saudi Arabia was the arranger of the sukuk.