Arabian Centres starts issuance of dollar-denominated sukuk today

Sukuk Details

Issue type

International dollar-denominated Shariah-compliant sukuk

Offering value

To be determined according to market conditions

Start of offering

July 14, 2021

End of offering

July 15, 2021

Targeted class

Institutional investors (qualified investors in the jurisdictions in which the offering will be made in accordance with the rules and regulations of such jurisdictions)

Minimum subscription

$200,000 and integral multiples of $1,000 in excess thereof.

Offering price

According to market conditions

Par value

According to market conditions

Return

According to market conditions

Maturity period

5.5 years (Oct. 7, 2026)

Redemption conditions

The sukuk may be subject to early dissolution at the option of the company upon the occurrence of a tax event. They may also be subject to early dissolution upon the occurrence of a total loss event, an asset disposition event, a delisting event, dissolution at the option of the company or a dissolution event. A change of control put option, delisting event put option, an asset disposition put option and a company clean-up call option also apply to the sukuk

Issuance manager

Goldman Sachs International and HSBC