Arabian Centres to begin Sukuk roadshow on Nov. 12

Arabian Centres Co. has announced the commencement of international roadshow on November 12, 2019 for its planned issuance of US dollar-denominated Shariah compliant sukuk.

The company said in a bourse filing that it will hold a series of investor meetings in Hong Kong, Singapore, the United Arab Emirates, London and New York.

The company has mandated Goldman Sachs International and HSBC as joint global coordinators, responsible for coordinating the activities of lead managers and underwriters on the transaction.

Credit Suisse, Emirates NBD Capital, Goldman Sachs International, HSBC, Mashreq Bank, Samba Capital, and Warba Bank have been appointed as joint book-runners.

Any potential Sukuk issuance is subject to market conditions and the approval of concerned authorities, it said.

Arabian Centres Co also announced credit rating agency Moody’s has assigned Ba1 rating with a stable outlook, while Fitch has assigned BB+ (EXP) rating with a stable outlook to the company.