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Monday, December 5, 2022

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Agrarius Sustainability Engineered to list inaugural ZAR500 million (US$27.56 million) agricultural Sukuk on the 25th October 2022

SOUTH AFRICA: Agrarius Sustainability Engineered (Agrarius) is set to list its inaugural Sukuk issuance worth ZAR500 million (US$27.56 million) on the 25th October 2022, the company told IFN. Issued under its ZAR10 billion (US$551.3 million) Shariah compliant sustainability-related asset-backed note program, the bookbuilding for the inaugural three-year Sukuk is scheduled to take place between the 17th and the 19th October 2022. Proceeds from the issuance will finance between five and 10 projects.

IFN previously reported on the 23rd September that Agrarius registered its asset-backed note program with the Johannesburg Stock Exchange. Proceeds raised under the program will be invested in sustainable and green projects in the agriculture sector value chain.

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