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Saudi Mall Operator Arabian Centres Expected To Raise $650 Million via Sukuk

Reuters

30 March 2021

Saudi mall operator Arabian Centres is expected to sell $650 million in 5-1/2 year Islamic bonds at around 5.75 percent after receiving more than $1.2 billion in orders for the deal, a document showed on Tuesday.

Price guidance on the sukuk was tightened to a range of 5.75 percent plus or minus 12.5 basis points, after initial guidance of around 5.875 percent, the document issued by one of the banks arranging the deal showed.

The deal is expected to launch later on Tuesday.

By Yousef Saba; Editor: Kirsten Donovan

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