The Clap
Al Marai (2280) announced the payment of the full value of the “fifth issue” Sukuk, amounting to SAR 1.6 billion riyals on September 16, 2022.
The Deets
The company clarified that the total number of redeemed Sukuk amounted to 1,600.
The company also successfully completed the private placement of Shari’a-compliant preferred Sukuk issuance, with a value of SAR 1.6 billion riyals on September 17, 2022.
The company further indicated that the issuance, targeting experienced investors residing in KSA, will offer a variable return for seven years.
Why this Matters
The financial impact of this operation will appear on Almarai’s financial results during Q3 2022.
Al Marai repays Sukuk amounting to SAR 1.6 billion 💰
