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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