Almarai intends to issue Trust Certificates denominated in U.S.$ of $2 mln

Almarai Company (“Almarai”) announced on Monday its intention to offer U.S.$-denominated trust certificates (the “Trust Certificates”) pursuant to the U.S. $2,000,000,00 Trust Certificate Issuance Programme.

Almarai has mandated Citigroup, Dubai Islamic Bank, HSBC, J.P. Morgan and Standard Chartered Bank as joint lead managers for the purposes of the offering of the Trust Certificates.

According to the published Statement on Tadawul that the Purpose of the offer aims to general corporate purposes as detailed in the base offering circular prepared by Almarai in relation to the Programme, and the Value of the offer will be determined at a later stage based on market conditions at that time.