Riyadh – Mubasher: Arabian Centres Company (Cenomi Centers) plans to issue USD-denominated Shari’ah-compliant Sukuk, according to a bourse statement.

The Saudi firm also announced a tender offer on its existing $500 million Trust Certificates due 2024, which is set to expire on 4 March 2024.

Meanwhile, the number and value of any Sukuk to be offered will be determined based on market conditions and the company’s financial needs and strategy.

Cenomi Centers mandated Goldman Sachs International and HSBC Bank as joint global coordinators.

Joint lead Managers and bookrunners included ANB Capital, Dubai Islamic Bank (DIB), Emirates NBD Capital, GFH Financial Group, Goldman Sachs International, HSBC Bank, J.P. Morgan Securities, and Kamco Investment Company. Mashreq Bank, Sharjah Islamic Bank, and Warba Bank will also participate in the transaction.

Earlier this month, the company inaugurated the U Walk Jeddah hybrid mall in the Al Zahar district.