Arabian Centres Co. — Capital/Financing Update 2019

Nov 20, 2019

Arabian Centres Co. announces the completion of issuing International USD denominated Sukuk

4321 · 20/11/2019 08:19:52 · Announcement #56827 · View on Saudi Exchange

Arabian Centres Co. announces the completion of issuing International USD denominated Sukuk

Element List	Explanation
Issuance Type	International USD denominated Sukuk
Introduction	Reference is made to the announcement from Arabian Centers Company (“Company”) published on the Saudi Stock Exchange’s (Tadawul) website on 13/3/1441H (corresponding to 10/11/2019G) relating to the commencement of international roadshow meetings with investors in respect of the issuance of USD denominated Shari'ah compliant Sukuk. The Company would like to announce that it has completed the offering of such issuance and the settlement of the sukuk will take place on 29/3/1441H (corresponding to 26/11/2019G).
Issuance Type	International USD denominated Sukuk
Issuance Amount	USD 500,000,000
Total number of (Bonds/Sukuk)	2,500
Par Value (Bonds/Sukuk)	USD 200,000
Return (Bonds/Sukuk)	5.375%
Maturity (Bonds/Sukuk)	5 years
Terms of Redemption	Sukuk Certificates may be subject to early redemption at the option of the Company upon the occurrence of a tax event. Sukuk Certificates may also be redeemed early upon the occurrence of a total loss event, an asset disposition event or a dissolution event. A change of control put option and a Company call option also apply to the Sukuk Certificates.
Additional Information	Application has been made to The International Stock Exchange Authority Limited (the "Authority") for the listing of and permission to deal in the Sukuk Certificates on the Official List of The International Stock Exchange. Sukuk Certificates may be sold in reliance on Regulation S or Rule 144A under the U.S. Securities Act of 1933, as amended. The Company will continue to complete all the necessary procedures to settle the issuance of the Sukuk and allocate such Sukuk to the investors.

The Sukuk Certificates have been assigned a rating of Ba2 by Moody’s and are expected to be assigned a rating of BB+ by Fitch.

This announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities. The Company will announce any other relevant material development to its shareholders in due course.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.