Wednesday, Jan 16, 2013
(This story was originally published Tuesday.)
RIYADH (Zawya Dow Jones)--Savola Group (2050.SA), a Middle East producer of sugar and other edible goods, expects to finish procedures for issuing its first Islamic bond, or sukuk, next week, the company said.
Savola expects to complete arrangements on Jan. 23, the company said in a statement on the website of the Saudi stock exchange. It didn't specify the amount or currency of the sukuk, which stockholders approved in an October meeting.
HSBC Saudi Arabia is handling the debt issue, Savola said earlier.
Savola's share price closed at 39.9 Saudi rial on Tuesday, down 0.10%.
Write to Ellen Knickmeyer at ellen.knickmeyer@dowjones.com
(END) Dow Jones Newswires
16-01-13 0350GMT
