Saudi mall operator Arabian Centres plans $500 mln sukuk - sources | Reuters
Saudi Arabian mall operator Arabian Centres is planning a sale of $500 million sukuk, or Islamic bonds, sources familiar with the matter said, in what would be the first Saudi corporate international bond issuance this year.
Arabian Centres, which operates 21 shopping centres across Saudi Arabia, made its debut in the international sukuk market in 2019 with a $500 million issuance, after going public earlier that year with a 2.8 billion riyal ($746.61 million) initial public offering in Saudi Arabia.
The company, which did not immediately respond to a request for comment, saw its net profit drop an annual 34.1% in the nine-month period ending on Dec. 31 last year, as containment measures against the coronavirus pandemic impacted business.
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