Arabian Centers Company announced its intention to issue international Shariah-compliant sukuk in dollars.
The company said in a statement to the Saudi market (Tadawul), today, Tuesday, that this issue will be merged and will form part of the existing sukuk issuance issued on April 7, 2021, amounting to Valued at $650 million, due in 2026.
The company clarified that the number and value of any sukuk that will be offered will be determined based on market conditions, their financial situation, and their financial and strategic needs, noting that the objective of this offering is for the company's purposes. general business, and meet its financial and strategic objectives.
She said that the offering came to achieve its general commercial purposes, and to meet its financial and strategic objectives, indicating that the offering is subject to the approval of the relevant official authorities, and will take place in accordance with the relevant laws and regulations.
and indicated that any sukuk offering will be limited to qualified investors in the countries where the offering will take place; In accordance with the rules and regulations of those countries, indicating that this announcement does not constitute an invitation or an offer to buy, own or subscribe in any securities, and the company will announce to its valued shareholders any other material developments at the time.
In another statement, the company indicated that the company has appointed Goldman Sachs International and HSBC as lead coordinators and joint bookrunners.
She indicated that the number and value of any sukuk to be issued will be determined based on market conditions and the company's financial and strategic needs.
