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Saudi's Almarai raises $267 million from Islamic bond debut
The Kingdom's largest dairy producer raises a billion riyals through sukuk sale, says the firm
Reuters Published in Ahram Online on 11 - 03 - 2012

Saudi Arabia's Almarai Co, the Gulf's biggest dairy firm by market value, raised 1 billion riyals ($266.6 million) through a sukuk, or Islamic bond, issue on 7 March, the firm said in a bourse statement on Sunday.
"Almarai successfully issued sukuk for 1 billion riyals on March 7, 2012. The orders reached 4.7 billion riyals, 4.7 times oversubscribed," the statement said.
It is the first time that Almarai has issued public debt, having begun roadshows for the offering last month.
HSBC Saudi Arabia was the arranger of the sukuk.

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