Arabian Centres Co. — Capital/Financing Update 2019

Nov 10, 2019

Arabian Centres Co. Announces the Commencement of International Roadshow Meetings with Investors for Potential Sukuk Issuance, and Its International Credit Rating by Moody’s and Fitch

4321 · 10/11/2019 08:54:55 · Announcement #56718 · View on Saudi Exchange

Arabian Centres Co. Announces the Commencement of International Roadshow Meetings with Investors for Potential Sukuk Issuance, and Its International Credit Rating by Moody’s and Fitch

Element List

Explanation

Announcement Detail

Reference to the Company’s announcement published on Tadawul on 07/11/2019 regarding its intention to issue USD denominated Shar’iah compliant Sukuk, Arabian Centres Company (“ACC” or “the Company”) announces the commencement of international roadshow starting from Tuesday, 12 November 2019. ACC will hold a series of fixed income investor meetings in Hong Kong, Singapore, the United Arab Emirates, London and New York.

ACC has mandated Goldman Sachs International and HSBC as Joint Global Coordinators, responsible for coordinating the activities of lead managers and underwriters on the transaction. Credit Suisse, Emirates NBD Capital, Goldman Sachs International, HSBC, Mashreq Bank PSC, Samba Capital, and Warba Bank have been appointed as joint bookrunners on the transaction.

Any potential Sukuk issuance is subject to market conditions and the approval of official authorities. ACC will announce all details and further developments in due course.

On another note, the Company is pleased to announce that Moody’s and Fitch International Credit Rating Agencies have assigned the below credit rating to the Company:

• Moody’s: Ba1 with a Stable Outlook;

• Fitch: BB+(EXP) with a Stable Outlook

For the Agencies’ reports, please refer to the following links:

Moody’s Investor Service:

https://www.moodys.com/research/Moodys-assigns-first-time-Ba1-rating-to-Arabian-Centres-and--PR_412983

Fitch Ratings:

https://www.fitchratings.com/site/pr/10100867

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