Saudi Arabia's Almarai plans first perpetual bonds - The National:
"Saudi Arabian food company Almarai plans to sell perpetual Islamic bonds, the first from an issuer in the kingdom, as Arabian Gulf companies seek to boost capital without selling shares.
Riyadh-based Almarai, which operates a joint venture with PepsiCo, said it will meet domestic investors in the next two weeks to privately place of 1.7 billion Saudi riyals of senior sukuk that do not mature. Perpetual debt can be treated as equity, thereby allowing companies to increase capital outside equity markets. Almarai's sale is set to be the first sukuk from the Gulf Cooperation Council since Saudi Binladin Group's 1bn riyal offering in July."
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