Arabian Centres Company (Cenomi Centers) Announces securing up to SAR 5.25 billion Shariah compliant facilities

Arabian Centres Company (Cenomi Centers) Announces securing up to SAR 5.25 billion Shariah compliant facilities

14 February 2024 08:02 AM

Element List

Explanation

Introduction

Arabian Centres Company (“Cenomi Centers” or “the Company”) announces that it has signed a secured Shariah compliant facility agreement consisting of term and revolving murabaha facilities (the “New Facilities”) that benefit from improved pricing and covenants package in comparison to existing facilities, with a syndicate of banks and for a total amount of SAR 5.25 billion. The proceeds of the facilities will be used in the repayment of amounts outstanding under its existing facilities (the “Existing Facilities”), and to support the future growth of the Company.

Date of obtaining the funding

2024-02-13 Corresponding to 1445-08-03

Financing entity

HSBC Saudi Arabia led the arranging of this syndication as exclusive Financial Coordinator and Lead Sustainability Coordinator. The Saudi National Bank, Saudi Awwal Bank and Arab National Bank as bookrunners and mandated lead arrangers, Commercial Bank of Dubai, Mashreqbank PSC and QNB KSA as bookrunners, The Saudi National Bank as murabaha SAR investment agent, The Saudi National Bank as murabaha USD investment agent, The Saudi National Bank as global agent, The Saudi National Bank as security agent, and Mashreqbank PSC as Sustainability Co-coordinator, Saudi Awwal Bank and