(Updates with size, details)
DUBAI, Nov 19 (Reuters) - Saudi mall operator Arabian
Centres is set to raise $500 million with a debut
issuance of international Islamic bonds, or sukuk, a document by
one of the banks leading the deal showed.
The company received over $1.45 billion in orders for the
five-year issuance, including $200 million from the banks
arranging it, the document said.
Arabian Centres started marketing the paper earlier on
Tuesday with price guidance of 5.75%, which was later reduced to
5.5-5.625%.
Goldman Sachs and HSBC have been appointed
to coordinate the deal. Credit Suisse, Emirates NBD
Capital, Mashreqbank, Samba Capital
and Warba Bank have been appointed as
bookrunners.
Arabian Centres went public earlier this year with a 2.8
billion riyal ($746.65 million) initial public offering in Saudi
Arabia, the kingdom's third biggest since Saudi lender National
Commercial Bank raised $6 billion in 2014.
The firm plans to expand its operations to 27 malls within
four years, and is building cinemas after a decades-long ban on
movie theatres was lifted last year.
($1 = 3.7501 riyals)
(Reporting by Davide Barbuscia; Editing by Shri Navaratnam and
Jan Harvey)
HSBC Holdings (HSBA)