UPDATE 1-Saudi dairy firm Almarai to issue private sukuk

Almarai Co, a producer of dairy and food products, announced its intentions of issuing the second tranche of a riyal-denominated sukuk programme. The issuance is to be made in the coming months and is directed towards private investors. The first tranche of the programme brought the company 1 billion riyals ($266.6 million). The investors in the second tranche have to be residents of the Kingdom. The sukuk is to contribute to financing Almarai's $4.2 billion investment programme, the goal of which is the expansion of the company's business between 2013 to 2017.

Read more on: http://www.reuters.com/article/2012/11/05/almarai-sukuk-idUSL5E8M50HD201...

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