USD-Denominated Sukuk Issuance Worth USD 225 Million Completed by Arabian Centres

Arabian Centres completed the issuance of USD 225 million, USD-denominated, Shariah-compliant Sukuk (Sukuk II Re-Tap), on the 15th of July 2021.This was in preparation for allocating the Sukuk issued on 28th of July 2021.

Why it Matters?

This Sukuk was issued to maintain and enhance the company’s financial position by repaying a large portion of its existing debts and freeing up several of its assets, as part of a strategy to release all of the company’s mortgaged assets at lending institutions. It will also provide additional liquidity to aid the company’s near- and medium-term expansion plan, which includes eight projects. This expansion plan is in line with Arabian Centres’ overall strategy of expanding within lifestyle sho...