DUBAI: Saudi Arabia’s Al Othaim Real Estate and Investment Co, owner of five shopping malls in the kingdom, plans to issue its debut local currency sukuk as early as this month, two sources aware of the matter said yesterday.
Also known as Othaim Malls, the firm has chosen Deutsche Bank and the investment banking arm of Banque Saudi Fransi to arrange the Islamic bond, the sources said.
The transaction is likely to be worth between SR500m and SR1bn ($133-$267m), one of the sources added.
Othaim Malls is part of Al Othaim Holding, a family-owned conglomerate which includes listed food retailer Abdullah Al Othaim Markets Co.
Othaim Malls didn’t immediately respond to a request for comment.
Reuters
