Othaim Malls plans debut Islamic bond in June: report

June 3, 2014 2:09 am

Saudi-based Al Othaim Real Estate and Investment Co, owner of five shopping malls in the kingdom, plans to issue its debut riyal sukuk as early as this month, Reuters has reported, citing two sources aware of the matter. The transaction is likely to be worth between SR500m and SR1bn ($133-$267m), one of the sources said. The firm, also known as Othaim Malls, has picked Deutsche Bank and the investment banking arm of Banque Saudi Fransi to arrange the Islamic bond, the sources said.