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.
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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
