DUBAI: The Arabian Centres Company, one of Saudi Arabia’s biggest retail groups, plans to sell dollar-denominated Islamic bonds.
The value of the sukuk issuance has yet to be determined, the company said in a Tadawul filing on Wednesday, adding it will be based on market conditions, funding requirements, and strategy.
The Saudi group operates 21 shopping centers across the Kingdom.
In 2019, Arabian Centres issued a $500 million sukuk as it revealed plans for a massive expansion that will run until 2024.
The sukuk had a tenor of five years.
The lifestyle and entertainment industry in Saudi Arabia has been undergoing a renaissance, following a raft of social and political reforms.
That has in turn spurred investment in the retail sector.
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