Islamic Finance

Saudi shopping mall operator planning U.S. dollar sukuk

Saudi Arabia's biggest shopping mall operator is planning to issue a U.S. dollar sukuk.

Arabian Centres Company said in a bourse filing on Wednesday (March 24) the value of the sukuk will be determined by market conditions and its own funding requirements.

The company issued its first-ever sukuk in November 2019 with a $500 million five-year sale priced at a profit rate of 5.375%.

The company went public in May 2019 in a 2.47 billion riyals ($659 million) initial public offering (IPO). 

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