#Saudi mall operator Arabian Centres gives initial guidance for dollar sukuk - document | Reuters

Saudi mall operator Arabian Centres gives initial guidance for dollar sukuk - document | Reuters

Saudi mall operator Arabian Centres on Tuesday gave initial price guidance of around 5.875% for 5-1/2-year U.S. dollar-denominated sukuk, or Islamic bonds, a document showed.

Credit Suisse, Goldman Sachs, HSBC, Albilad Investment, JPMorgan, Kamco Invest and Warba Bank are arranging the deal, which is expected to be of benchmark size and launch later on Tuesday, the document from one of the banks showed.

Sources told Reuters earlier this month that Arabian Centres, which operates 21 shopping centres across Saudi Arabia, was planning a $500 million sukuk sale.