Almarai completes offering of US dollar-denominated sukuk at $750 mln

Almarai Company announced on Wednesday that the completion of the offering and subscribing to US dollar-denominated sukuk, as the value of the offering amounted to 750 million US dollars, with a return of 5.233 percent annually, to be paid semi-annually. The settlement of the Sukuk issuance will be on July 25.

According to the statement published on “Tadawul”, the total number of Sukuk amounted to 3,750 sukuk, provided that the sukuk maturity period is 10 years, while the nominal value amounted to 200,000 US dollars. prepared regarding the instruments and the pricing appendix, and the Sukuk may be redeemed prior to the scheduled maturity as detailed in the base offering circular issued 14/07/2023 prepared in relation to the Trust Certificates and the applicable pricing supplement.

The Trust Certificates will be listed on the Global Exchange Market of the Irish Stock Exchange plc trading as Euronext Dublin, the Trust Certificates may be sold in reliance on Regulation S under the US Securities Act of 1933, as amended.

This comes with reference to the announcement made by Almarai Company (“Almarai”) published on the website of the Saudi Stock Exchange (Tadawul) 18/07/2023), relating to the commencement of Almarai’s offer of its U.S.$.