Cenomi Centers completes additional $100M sukuk issue

Cenomi Centers headquarters

Arabian Centres Co. (Cenomi Centers) completed the issuance of additional USD-denominated sukuk at $100 million, as part of the outstanding $500 million sukuk issued on March 6, 2024, and due in 2029, according to a statement to Tadawul.

 

The sukuk issuance will be settled on March 18, 2024.

 

Issue Details

Item

Explanation

Issuance Type

International USD-denominated Shariah-compliant sukuk

Value

$100 mln

Total Number of Sukuk

500

Par Value

$200,000

Return

9.5%

Maturity

5 years

Terms of Redemption

Sukuk can be redeemed in certain cases as detailed in the prospectus dated March 4

 

The sukuk issue request was submitted to the International Stock Exchange Authority Limited and the sukuk can be issued in accordance to Regulation S under the US Securities Act of 1933, as amended.

 

The company will continue finalizing all the necessary related procedures.

 

Cenomi Centers recently announced the completion of USD-denominated Shariah-compliant sukuk issue at $500 million, in preparation for the settlement of the sukuk scheduled for March 6, 2024, Argaam reported.

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