IEG Middle East advised Siniora FoodIndustries, a publicly listed entity on the Amman Stock Exchange on an $80m inaugural bond issuance to fund expansion in Saudi Arabia and support subsidiary growth.

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IEG Middle East assisted in the assessment of capital requirements to estimate the most optimal scenario and maximize shareholders’ value by balancing capital raising and bond size.

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IEG Middle East led the entire process from developing deal material, to managing the roadshow with investors all the way to working towards a final close by listing the bond and achieving optimal pricing.

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Company Overview:

Siniora Food Industries is a leading regional meat processing and frozen foods company. The company has production facilities in five major markets in the region and exports to eleven other markets. Since its establishment over 100 years ago, the Company has evolved from a small Palestinian operation into a Jordan-based regional champion with ~$200m in annual sales, prioritizing healthy growth with strong profitability in a defensive industry.

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The company is one of the largest food manufacturers in the region, boasting a strong and diversified portfolio of products that include cold cuts, frozen foods and canned foods and enjoys a diversified geographic presence and exposure to a dozen markets making it a very stable, risk-averse and recession proof business.