Saudi mall operator Arabian Centres expected to raise $650 million via sukuk – document

FILE PHOTO: A general view of the Mall of Dhahran, a shopping mall operated by Arabian Centres in Dhahran, Saudi Arabia, May 1, 2019. REUTERS/ Hamad I Mohammed/File Photo

DUBAI (Reuters) – Saudi mall operator Arabian Centres is expected to sell $650 million in 5-1/2 year Islamic bonds at around 5.75% after receiving more than $1.2 billion in orders for the deal, a document showed on Tuesday.

Price guidance on the sukuk was tightened to a range of 5.75% plus or minus 12.5 basis points, after initial guidance of around 5.875%, the document issued by one of the banks arranging the deal showed.

The deal is expected to launch later on Tuesday.

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