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31/08/2015 05:52 AST
Saudi Arabia's Al Othaim Real Estate and Investment Co, owner of five shopping malls in the kingdom, has raised 1 billion riyals ($267 million) through a debut sukuk issue, two banking sources said on Sunday.
The five-year issue was priced at 170 basis points over the six-month Saudi interbank offered rate, the sources said.
The company, also known as Othaim Malls and part of family owned conglomerate Al Othaim Holding, began marketing the sukuk in early August, earmarking part of the planned proceeds to fund expansion plans.
Othaim Malls is building five shopping centres, three of which are likely to be completed by end of the year, with the rest finalised by the end of 2016.
A company source, who declined to be named, said the sukuk settlement was on Sunday.
The transaction was arranged by the investment banking arms of Banque Saudi Fransi, Gulf International Bank and National Commercial Bank.
Gulfnews
11/08/2015
JEDDAH: Saudi Arabia's Al-Othaim Real Estate and Investment Co., owner of five shopping malls in the Kingdom, is marketing a five-year debut sukuk issue which could raise up to SR1 billion ($267 mill
Arab News
09/06/2015
Saudi Arabia's Al Othaim Real Estate and Investment Co, owner of five shopping malls in the kingdom, has revived plans to issue a debut local currency Islamic bond, probably after the summer, two sou
Reuters
04/03/2014
The CMA Board has issued its resolution approving Abdullah Al Othaim Markets Company's request to increase its capital from SAR (225,000,000) to SAR (450,000,000) through issuing one bonus share for
Tadawul
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| NAHDI | 114.60 | 0.60 (0.52 |
| ANAAMHOLDING | 17.14 | -0.34 (-1.95 |
| BINDAWOOD | 6.27 | 0.02 (0.32 |
| ALDAWAA | 79.60 | -0.20 (-0.26 |
| ALMUNAJEM | 84.50 | 1.30 (1.56 |
26/04/2025
Adnoc Distribution, a leading fuel distributor and convenience store operator, has unveiled plans for a major expansion of its electric vehicle (EV) charging infrastructure, increasing its charging p
Trade Arabia
25/04/2025
Saudi Awwal Bank (SAB), one of the leading banks in Saudi Arabia, has signed SR2 billion credit facility agreement with the Saudi Binladin Group, a subsidiary of Binladin International Holding Group,
Saudi Gazette
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The Dubai-based logistics firm Aramex has confirmed a new acting CEO after Othman AlJeda, the incumbent, resigned for personal reasons.
The change at the top comes just weeks after Abu Dhabi
Gulfnews
24/04/2025
The leading UAE banks have put up some sizable growth in their Q1-2025 results, with ADIB's net profit before tax totalling Dh1.9 billion - and that's from an impressive 18% gain year-on-year.
Gulfnews
24/04/2025
Salalah Port has received five modern dual-fuel methanol-powered container vessels from Maersk's fleet, marking a significant milestone in the port's infrastructure development and readiness to accom
Times of Oman
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