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Best Islamic local-currency deal of the year:
Almarai SR1.7 billion perpetual corporate hybrid sukuk
Lead managers: HSBC, Standard Chartered, BNP Paribas, Saudi Fransi/Crédit Agricole
This was a year for innovation and scale out of Saudi Arabia, but the Almarai deal was more than just big. The SR1.7 billion perpetual sukuk, callable in year five, was a hybrid, the first of its kind from Saudi Arabia, and indeed from the MENA region in any currency.
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