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The Saudi-based Arabian Centres Company (Cenomi Centres) has issued a mandate for a senior unsecured Reg S six-year sukuk, denominated in Saudi Arabian riyals.
The Tadawul-listed company, which develops and operates contemporary lifestyle centres in Saudi Arabia, sukuk mandate comes with a coupon rate of 8.5% per annum, payable quarterly.
The final amount will be determined after the offering, based on market demand and conditions.
The offering will come under Cenomi’s 4.5 billion Saudi Arabian riyals ($1.15 billion) Sukuk Issuance Programme.
Al Rajhi Capital has been appointed as financial advisor, lead manager, and dealer.
Cenomi’s assets include developments in Saudi, including the Jawharat Riyadh, Jawharat Jeddah, and Jawharat Al Khobar projects.
(Writing by Bindu Rai, editing by Seban Scaria)
