Arabian Centres Announces $500 Million Sukuk Bond Sale at 9.50% Yield

Arabian Centres Announces $500 Million Sukuk Bond Sale at 9.50% Yield

By Staff Writer, 01 March 2024

Arabian Centres, Saudi Arabia's leading shopping mall operator (4321.SE), unveiled plans for a $500 million five-year non-callable for two years Islamic bond, known as sukuk, as reported by a document from an arranging bank reviewed by Reuters on Thursday (29/2).

The debt sale's ultimate yield has been established at 9.50%, a reduction from the initial estimate of 10% stated in an earlier document seen during the day.

Read More: Saudi Arabia Unveils $23 Billion Borrowing Strategy to Navigate 2024 Fiscal Landscape

The document further revealed that orders for the bond issuance surpassed $1.6 billion, with allocation anticipated to take place in the near future.

Source: Shamsuddin Mohd / Zawya

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