Saudi Almarai raises $750mln from sukuk sale

Saudi Almarai raises $750mln from sukuk sale

Saudi Arabia's food and beverages group, Almarai Company, has raised $750 million from the sale of USD-denominated trust certificates under its $2 billion Trust Certificate Issuance Programme. In a regulatory filing on the Saudi Tadawul stock exchange on Wednesday, the company said the 10-year sukuk was priced at 5.233% per annum. The 3,750 certificates sold has a par value of $200,000 and will be listed on the Global Exchange Market of the Irish Stock Exchange plc trading as Euronext Dublin. (Writing by Brinda Darasha; editing by Seban Scaria) [email protected]