Sept 25 (IFR) - Saudi Arabian dairy firm Almarai Co has set guidance of 200 basis points over six-month Libor on a planned 1.7 billion riyal ($453.2 million) Tier 1 hybrid sukuk, a banker said.
The company completed two-week roadshows last Friday and opened books on the deal this week.
The deal is expected to be wrapped up early next week, with early indications from investors suggesting that demand is likely to be high, the banker said.
If completed successfully, it would be the first corporate hybrid sukuk - a perpetual sukuk with equity-like characteristics - in the Gulf region.
(Reporting by Abhinav Ramnarayan) Keywords: SAUDI ALMARAI/SUKUK
Copyright Thomson Reuters 2013. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.