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Saudi dairy giant Almarai raises SR1.7bn for perpetual senior sukuk

The Saudi Stock Exchange's market index Tasi gained 0.55% to reach 8,008.54 points on Tuesday. Market leader Sabic added 0.52%, finishing at SR96.75. Almarai finished unchanged at SR54.75. Earlier in the day, Almarai said further to its announcement published on Tadawul dated Sept. 4, with respect to its first perpetual senior Islamic bond (sukuk), it raised an amount of SR1.7bn on Sept. 30 2013. "The current issue, which was made on a floating rate basis, is a perpetual senior sukuk callable after 5 years. This issue was a private offering to sophisticated investors resident in Saudi Arabia," said Almarai.