Chicago, Sept. 6 – Almarai Co. listed a $750 million sukuk offering due 2033 (Baa3/BBB-), according to an offering document and a notice.
The trust certificates have a 5.233% distribution amount and priced at par.
Subject to any purchase and cancellation or early redemption, the trust certificates will be redeemed at par.
The sukuk came through Almarai Sukuk Ltd.
Bookrunners for the Regulation S offering were Citigroup Global Markets Ltd., Dubai Islamic Bank PJSC, HSBC Bank plc, J.P. Morgan Securities plc and Standard Chartered Bank.
Proceeds will be used for general corporate purposes.
The certificates are listed in Dublin.
The Saudi Arabian issuer is a dairy and animal products brand.
| Issuer: | Almarai Sukuk Ltd.
|
| Purchaser: | Almarai Co.
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| Amount: | $750 million
|
| Issue: | Trust certificates
|
| Maturity: | July 25, 2033
|
| Bookrunners: | Citigroup Global Markets Ltd., Dubai Islamic Bank PJSC, HSBC Bank plc, J.P. Morgan Securities plc and Standard Chartered Bank
|
| Coupon: | 5.233%
|
| Price: | Par
|
| Yield: | 5.233%
|
| Call features: | At par
|
| Trade date: | July 20
|
| Settlement date: | July 25
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB-
|
| Distribution: | Regulation S
|
| ISIN: | XS2641777235
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