IslamicFinance.de

Almarai Co, dairy and food producer in Saudi Arabia, has planned the issuance of the second tranche of its riyal-denominated sukuk programme in the coming months. The sukuk is directed towards private investors who are residents of the Kingdom. The first tranche, which was issued in March, was able to raise 1 billion riyals ($266.6 million). Thus, the deal was 4.7 times oversubscribed. The sukuk programme aims to help finance the company's $4.2 billion investment programme to expand its business between 2013 to 2017.