Saudi domestic sukuk first explained

Author: | Published: 3 Apr 2012
The launch of Saudi Arabia’s first domestic sukuk programme shows that the country’s investors and regulator are growing more comfortable with the instrument, according to counsel on the deal.

Almarai’s landmark SAR2.3 billion ($613 million) programme was established on March 29, and included an inaugural issuance of SAR1 billion. The issue was privately placed with Saudi investors.

Bilal Kahlon of Baker & McKenzie in Bahrain, who...