Our friends at Cenomi Centers have wrapped up a USD 100 mn off-market sukuk sale,it said in a regulatory filing to Tadawul, as the lifestyle centers operator looks to shore up liquidity and refinance sukuk due in November 2024.

The FCY sale is part of a larger USD 500 mn sukuk that it took to market earlier this monthand is set to mature in 2029 — both of which fall under the retail giant’s international borrowing program.

Yield + settlement: The five-year USD-denominated issuance carries a 9.5% fixed annual yield, with the fresh sukuk set to be settled on Monday, 18 March 2024.

Listing + trading sukuks on TSIE: Cenomi has filed an application to The International StockExchange seeking permission to list and trade its sukuk certificates on the official list of the exchange.

ADVISORS- Cenomi tapped our friends at HSBC along with Goldman Sachs as joint global coordinators, bookrunners and joint lead managers. Our friends at Mashreq are joint lead managers and bookrunners along with ANB Capital, Dubai Islamic Bank, Emirates NBD Capital, GFH Financial Group, JP Morgan Securities, Kamco Investment, Sharjah Islamic Bank and Warba Bank.

ALSO FROM CENOMI-

#1- Cenomi Centers has partnered up with global professional development and networking platform Playbook in a bid to boost the career paths of the retailer’s female employees. The partnership will leverage Playbook’s network, learning resources, and mentorship programs, according to a post on Linkedin.

#2- Cenomi’s U Walk Jeddah will in the next few months feature a new Al-Ahli Saudi FC store under a fresh partnership between the retailer and the football club, Arab News reports. “Our new partnership with Al-Ahli, one of Saudi Arabia’s most loved football clubs, is an exciting development and one sure to appeal to the legions of the club’s fans, young and old.” Turki Al-Zahrani, chief corporate services officer at Cenomi Centers said.

About U Walk Jeddah: The lifestyle destination is Jeddah’s first hybrid mall featuring global retail brands including household big names Zara, Victoria’s Secret and Lululemon, an open-air walkway and an indoor boulevard. The mall’s grand opening took place last month.

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