Baker & McKenzie, a leading law firm, has advised Almarai Company on its inaugural hybrid sukuk issuance for an amount of SR1.7 billion ($453.2 million).

Almarai is a leading brand in the food and beverage sector in the Saudi Arabia and the GCC region.

This was the first hybrid sukuk issuance from the Saudi market and also the first to have been undertaken by a non-bank corporate in the Gulf region.

BNP Paribas Investment Company KSA, HSBC Saudi Arabia, Saudi Fransi Capital and Standard Chartered Capital Saudi Arabia were appointed by Almarai to act as joint lead managers and bookrunners for the hybrid sukuk issuance. - TradeArabia News Service