{"id":83987,"date":"2024-03-04T00:00:00","date_gmt":"2024-03-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/04\/cenomi-centers-closes-another-fcy-sukuk-issuance\/"},"modified":"2024-03-04T00:00:00","modified_gmt":"2024-03-04T00:00:00","slug":"cenomi-centers-closes-another-fcy-sukuk-issuance","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/04\/cenomi-centers-closes-another-fcy-sukuk-issuance\/","title":{"rendered":"Cenomi Centers closes another FCY sukuk issuance"},"content":{"rendered":"

Our friends at Cenomi Centers have wrapped up a USD 500 mn sukuk sale<\/strong>as the lifestyle centers operator looks to shore up liquidity and refinance a sukuk issuance due to mature in November 2024, it said in a regulatory filing to Tadawul<\/a>. Sukukholders will need to deposit their investments with the underwriter this Wednesday, 6 March. The FCY issuance, which kicked off last week<\/a>, is part of the retail giant\u2019s international borrowing program.<\/p>\n

Maturity + yield: <\/strong>The five-year USD-denominated issuance carries a 9.5% fixed annual yield, with the option for early redemption as outlined in the offering circular. The issuance is not expected to have any impact on Cenomi\u2019s creditworthiness, according to the filing. <\/p>\n

Listing + trading sukuks on TSIE: <\/strong>Cenomi filed an application to the International Stock<\/a>Exchange<\/a> seeking permission to list and trade its sukuk certificates on the official list of the exchange. <\/p>\n

ADVISORS- <\/strong>Cenomi tapped our friends at HSBC along with Goldman Sachs as joint global coordinators, bookrunners and joint lead managers. ANB capital, Dubai Islamic Bank, Emirates NBD Capital, GFH Financial Group, J.P. Morgan Securities, Kamco Investment, Mashreq, Sharjah Islamic Bank and Warba Bank will act as joint lead managers and bookrunners.<\/p>\n

A separate issuance is expiring today:<\/strong> The retail giant is still accepting orders for its USD 500 mn trust certificates until 4 pm GMT today (7 pm KSA), according to an earlier filing<\/a>.<\/p>\n

Boasting a healthy debt profile: <\/strong>The company had debt on the books of about SAR 8.9 bn in 9M 2023, against SAR 27 bn in portfolio value, ultimately resulting in a 33% loan-value ratio which is \u201cquite strong and quite healthy for a real estate company,\u201d CEO Rehill-Erguven said earlier this month<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The issuance carries 9.5% fixed annual yield<\/p>\n","protected":false},"author":1,"featured_media":83988,"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":[2671],"tags":[1072,606,57,10,211,118],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-83987","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-retail","tag-cenomi-centers","tag-cenomi-group","tag-debt-watch","tag-enterpriseam-ksa","tag-retail","tag-sukuk","wpautop","entry"],"acf":{"mongo_id":"e714b8de-cf06-4dc7-9623-261bc7ce6972","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/263.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Cenomi Centers closes another FCY sukuk issuance. PLUS: A separate offering expires today","related_issue":[83984],"teaser":"The issuance carries 9.5% fixed annual yield","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.d9a497ff-d708-4375-88b3-969b9ea48b89.mp3"},"yoast_head":"\nCenomi Centers closes another FCY sukuk issuance - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/04\/cenomi-centers-closes-another-fcy-sukuk-issuance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cenomi Centers closes another FCY sukuk issuance\" \/>\n<meta property=\"og:description\" content=\"The issuance carries 9.5% fixed annual yield\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/04\/cenomi-centers-closes-another-fcy-sukuk-issuance\/\" \/>\n<meta property=\"og:site_name\" content=\"KSA\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-04T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/263.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/04\/cenomi-centers-closes-another-fcy-sukuk-issuance\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/04\/cenomi-centers-closes-another-fcy-sukuk-issuance\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Cenomi Centers closes another FCY sukuk issuance\",\"datePublished\":\"2024-03-04T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/04\/cenomi-centers-closes-another-fcy-sukuk-issuance\/\"},\"wordCount\":278,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/04\/cenomi-centers-closes-another-fcy-sukuk-issuance\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/263.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Cenomi Centers\",\"Cenomi Group\",\"debt watch\",\"EnterpriseAM KSA\",\"Retail\",\"sukuk\"],\"articleSection\":[\"RETAIL\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/04\/cenomi-centers-closes-another-fcy-sukuk-issuance\/\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/2024\/03\/04\/cenomi-centers-closes-another-fcy-sukuk-issuance\/\",\"name\":\"Cenomi Centers closes another FCY sukuk issuance - 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