Arabian Centres Company (“Company”) announces its intention to issue USD denominated Shar’iah compliant Sukuk.
Issuance Type
USD denominated Shar’iah compliant Sukuk
Board Resolution Date
2019-11-06 Corresponding to 1441-03-09
Issuance Amount
The number and value of any Sukuk to be offered will be determined based on market conditions and the Company’s financial and strategic needs.
Purpose of Issuance
General corporate purposes and to fulfill the Company’s financial and strategic needs, this includes the refinancing of the Company’s existing debt.
Approvals
The Sukuk offering will be subject to the approval of the relevant regulatory authorities. The offering will be made in accordance with all applicable laws and regulations.
Additional Information
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 developments to its shareholders in due course. It should also be noted that any offering of Sukuk will be limited to qualified investors in the jurisdictions in which the offering will be made in accordance with the rules and regulations of such jurisdictions.
Comments