Almarai completes $750 mln worth trust certificate issue

Almarai Co. headquarters

Almarai Co. announced the completion of trust certificates issuance with an offering value of $750 million and an annual return of 5.233%, the dairy producer said in a statement to Tadawul. 

 

The trust certificates will be listed on the Irish Stock Exchange under Euronext Dublin. They can be sold under Regulation S of the US Securities Act of 1933 as amended, Almarai pointed out. 

 

Issuance Details

Type 

US-dollar-denominated trust certificates

Value

$750 mln

Start Date

July 18, 2023

End Date

July 19, 2023

Target Investors

Eligible investors in Saudi Arabia and internationally

Minimum Subscription Limit

$200,000 and in increments of $1,000 in excess thereof

Number of Offered Trust Certificates

3,750

Nominal Value

$200,000

Return

5.233% per annum; to be paid semi-annually as of the settlement date on July 25, 2023

Maturity Period

10 years

Terms of Redemption 

The trust certificates may be redeemed prior to the scheduled maturity date in certain cases, as detailed in the base offering circular.
 

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