Cenomi Centers Completes Full Redemption of $209.6 Million Sukuks Due in November 2024

Arabian Centres Company, also known as “Cenomi Centers,” announced on Sunday the successful redemption of the remaining portion of its international sukuk due on 26/11/2024G. This Sukuk was listed on The International Stock Exchange and was initially issued on 26/11/2019, marking the completion of the full redemption process for this issuance.

The company revealed that the total value of the redeemed sukuks amounted to $209.6 million, achieving a recovery rate of 41.9% of the total issue. Approximately 1,048 sukuks were involved in this redemption, each with a nominal value of $200,000 upon redemption.

In a statement published on “Tadawul,” it was confirmed that the redemption amounts were deposited into the accounts of the sukuk holders on March 15, 2024.

Following the Company’s previous announcement regarding its any-and-all tender offer on its existing U.S.$500,000,000 Trust Certificates due 2024, the Company has tendered a portion of the outstanding Trust Certificates, covering the difference between the redeemed amount and the total issuance value. Consequently, the Company no longer has outstanding Trust Certificates maturing in 2024.

Cenomi Centers expresses its gratitude to its investor base for their continued trust and support in the Company.