Cenomi Centers redeems international sukuk due Nov. 26

Cenomi Centers headquarters

Arabian Centres Co. (Cenomi Centers) announced the full redemption of its international USD-denominated sukuk maturing on Nov. 26, 2024, according to a statement to Tadawul.

 

These sukuk are listed on the International Stock Exchange and were issued on Nov. 26, 2019, the statement added.

 

Details

Offer Type

International USD denominated Shari’ah compliant Sukuk

Percentage of Redeemed Sukuk to Total

41.9%

Value of Redeemed Sukuk

$209.61 mln

Number of Redeemed Sukuk

Nearly 1,048 sak

Issue Date

Nov. 26, 2019

Trading End Date

March 15, 2024

Sukuk Par Value

$200,000

Total Issuance Value After Redemption

0

Date of Depositing the Amounts in Sukukholders Account

March 15, 2024

Entity Responsible for Deposit

HSBC Bank plc (paying agent)

 

The company announced an offer to fully or partially repurchase its outstanding sukuk at $500 million, which will mature in 2024. A portion of the sukuk, representing the difference between the redeemed amount and the total issuance, was repurchased, and thus the issuance maturing in 2024 was fully redeemed.

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