Arabian Centres Company (Cenomi Centers) announces the completion of offering of USD denominated Shari’ah compliant Sukuk
| Element List | Explanation |
|---|---|
| Offer Type | International USD denominated Shari’ah compliant Sukuk |
| Introduction | With reference to the Arabian Centres Company (“Cenomi Centers” or “the Company”) announcement published on Tadawul on 19 Sha’ban 1445H (corresponding to 29 February 2024G) regarding the commencement of offering of USD denominated Shari’ah compliant Sukuk. The Company is pleased to announce that it has completed the offering of such issuance and the settlement of the sukuk will take place on 25 Sha’ban 1445H (corresponding to 6 March 2024G).
The Company expects the issuance to be credit neutral and the proceeds from the issuance shall be used to refinance the Company’s 2019 Sukuk which are due to mature in November 2024. |
| Offer Type | International USD denominated Shari’ah compliant Sukuk |
| Value of the offer | USD 500,000,000 |
| Total number of (Bonds/Sukuk) | 2,500 Sak |
| Par Value (Bonds/Sukuk) | USD 200,000 |
| Return (Bonds/Sukuk) | 9.5% |
| Maturity (Bonds/Sukuk) | 5 years |
| Terms of Redemption | The Sukuk may be redeemed prior to the scheduled dissolution date in certain cases as detailed in the offering circular dated on or around 4 March 2024G in relation to the Sukuk. |
| Additional Information | Application has been made to The International Stock Exchange Authority Limited (the "Authority") for the listing of and permission to deal in the Sukuk Certificates on the Official List of The International Stock Exchange. Sukuk Certificates may be sold in reliance on Regulation S under the U.S. Securities Act of 1933, as amended. The Company will continue to complete all the necessary procedures to settle the issuance of the Sukuk and allocate such Sukuk to the investors.
This announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities. The Company will announce any other relevant material development to its shareholders in due course. |
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