Arabian Centres announces intention to issue USD denominated sukuk

Arabian Centres Co. has announced its intention to issue USD denominated Shar’iah compliant sukuk, it said in a bourse statement today.

The amount of the sukuk will be decided based on market conditions and the company’s financial and strategic needs.

The sukuk is intended for general corporate purposes and to fulfill the company’s financial and strategic needs, which includes refinancing the company’s existing debt.

The sukuk offering will be subject to the approval of the relevant regulatory authorities, the statement said.

The offering will be made in accordance with all applicable laws and regulations.