Almarai commences offering Trust Certificates denominated in US $

Almarai announced the commencement of offering Trust Certificates denominated in U.S.$, noting that the issuance amount will be determined after the completion of the offer period, based on market conditions at that time, whereas the offering start date will be on 18.07.2023; Maturity period of (Sukuk /Bonds) is 10 years.

The company stated on Tuesday on Tadawul that the minimum subscription is $200,000 and in increments of $1,000 in excess thereof. Par value is $200,000, while the offer price and return of (Sukuk /Bonds) will be determined subject to market conditions.

The targeted class of the issuance is the eligible investors in the Kingdom of Saudi Arabia and internationally.

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

The company noted that the trust certificates may be redeemed prior to the scheduled maturity date in certain cases as detailed in the base offering circular issued on 17.07.2023 prepared in relation to the Trust Certificates.

Stating that this announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities. Almarai will announce any other relevant material developments in due course as required by the relevant rules and regulations.

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.

It is worth noting that the issuance end date referred to above is the expected date of completion of the offering of the Trust Certificates, subject to market conditions.

This comes in reference to the announcement made by Almarai Company (“Almarai”) published on the website of the Saudi Stock Exchange (Tadawul) 17.07.2023, relating to Almarai’s intention to issue U.S.$-denominated Trust Certificates.