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Arabian Centres to issue dollar-dominated sukuk

Arabian Centres to issue dollar-dominated sukuk
The sukuk offering will be subject to the approval of the relevant regulatory authorities
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Riyadh – Mubasher: Arabian Centres Company revealed its intention to issue dollar-dominated sharia-compliant sukuk.

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, according to the company’s statement to the Saudi Stock Exchange (Tadawul) on Thursday.

The company said that the issuance of the new sukuk aims at fulfilling its financial and strategic needs, including the refinancing of the firm’s existing debt.

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,” Arabian Centres added.

The Saudi-based firm 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.