{"id":102811,"date":"2025-11-26T00:00:00","date_gmt":"2025-11-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/11\/26\/cenomi-centers-raises-usd-500-mn-in-latest-debt-sale\/"},"modified":"2025-11-26T00:00:00","modified_gmt":"2025-11-26T00:00:00","slug":"cenomi-centers-raises-usd-500-mn-in-latest-debt-sale","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/11\/26\/cenomi-centers-raises-usd-500-mn-in-latest-debt-sale\/","title":{"rendered":"Cenomi Centers raises USD 500 mn in latest debt sale"},"content":{"rendered":"

<\/strong>Cenomi Centers wrapped up the offering of its USD-denominated sukuk<\/strong>, raising USD 500 mn, according to a bourse disclosure<\/a>. The five-year notes carry a fixed 8.875% return and were sold in 2.5k certificates at USD 200k par value each. Settlement is slated for 4 December, with the Reg S certificates to be listed on The International Stock Exchange (TISE). The debt sale, announced late last week, opened on Monday<\/a> to institutional and retail buyers, with minimum orders set at USD 200k, and closed yesterday.<\/p>\n

What the money is for: <\/strong>Proceeds will go toward refinancing Cenomi\u2019s existing 2021 sukuk, which mature in October 2026, leaving the transaction debt-neutral, the company said.<\/p>\n

Part of a broader refinancing play: <\/strong>The mall operator wrapped a SAR 2.05 bn local issuance<\/a> less than a week ago, marking its first drawdown under a SAR 4.5 bn sukuk program approved by the CMA earlier this year. The company also launched an any-and-all tender offer and consent solicitation last week for its USD 875 mn sukuk due next year, with the tender window running until 1 December and consent due by 8 December.<\/p>\n

IN CONTEXT- <\/strong>S&P Global sees Saudi corporates would increasingly turn to FCY debt<\/a> as Vision 2030 capex overwhelms internal cash flows. With Tadawul-listed companies\u2019 investment needs set to hit USD 85-95 bn a year through 2027 and USD 45-55 bn in maturities coming due in the next 12 months, S&P said borrowers would have little choice but to refinance aggressively and lean on cross-border sukuk and bond markets. <\/p>\n

ADVISORS- <\/strong>Abu Dhabi Commercial Bank, Citigroup, Emirates NBD Capital, Goldman Sachs International, and Mashreq (Islamic division) acted as joint global coordinators and joint bookrunners. Arqaam Capital, Dubai Islamic Bank, First Abu Dhabi Bank, J.P. Morgan, RAKBank, and Sharjah Islamic Bank joined as joint lead managers and bookrunners.<\/p>\n","protected":false},"excerpt":{"rendered":"

The five-year notes carry a fixed 8.875% return.<\/p>\n","protected":false},"author":1,"featured_media":102812,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2590],"tags":[1072,57,10],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-102811","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-cenomi-centers","tag-debt-watch","tag-enterpriseam-ksa","wpautop","entry"],"acf":{"mongo_id":"e40dc64b-f00f-49f2-98f0-429ae1128a10","order":"10","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/9\/803.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Cenomi Centers raises USD 500 mn in latest debt sale","related_issue":[102794],"teaser":"The five-year notes carry a fixed 8.875% return.","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/11\/.fec9d0ef-2b70-4878-8373-c878d140fbfa.mp3"},"yoast_head":"\nCenomi Centers raises USD 500 mn in latest debt sale - 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