Arabian Centres Company (Cenomi Centers) announces its intention to issue USD denominated Shari’ah compliant Sukuk

Arabian Centres Company (Cenomi Centers) announces its intention to issue USD denominated Shari’ah compliant Sukuk

27 February 2024 08:04 AM

Element List

Explanation

Introduction

Arabian Centres Company (“Cenomi Centers” or “the Company”) announces its intention to issue USD denominated Shari’ah compliant Sukuk. Concurrently, the Company has also announced an any and all tender offer on its existing U.S.$500,000,000 Trust Certificates due 2024G. The tender offer expires at 4pm London time on 4 March 2024. Further information is provided in the tender offer memorandum dated 27 February 2024. The Company has mandated Goldman Sachs International and HSBC Bank plc as Joint Global Coordinators. anb capital, Dubai Islamic Bank P.J.S.C., Emirates NBD Capital, GFH Financial Group B.S.C., Goldman Sachs International, HSBC Bank plc, J.P. Morgan Securities plc, Kamco Investment Company K.S.C.P., Mashreqbank psc (acting through its Islamic Banking Division), Sharjah Islamic Bank P.J.S.C. and Warba Bank K.S.C.P. have been appointed as Joint Lead Managers and Bookrunners on the transaction. In connection with its intention to issue Sukuk, the Company will hold a series of meetings with prospective investors.

Offer Type

International USD denominated Shari'ah compliant Sukuk

Date of the board’s decision

2024-02-23 Corresponding to 1445-08-13

Value of the offer