Tabreed intends to price $500 million seven-year sukuk

By Rebecca Melvin

New York, Oct. 24 – National Central Cooling Co. PJSC, or Tabreed, plans to price $500 million of seven-year senior unsecured sukuk certificates (expected ratings: Baa3//BBB+) to be issued by Tabreed Sukuk SPC Ltd., a special purpose vehicle established by Tabreed in the United Arab Emirates.

J.P. Morgan Securities plc is bookrunner for the Regulation S notes, which are expected to be listed on the Irish exchange.

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