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Fawaz Abdulaziz Alhokair Co, the Saudi Arabian retailer which franchises brands such as Zara and Marks and Spencer in the kingdom, plans to issue its debut riyal-denominated sukuk, it said in a bourse filing on Tuesday.

Alhokair will begin meeting fixed income investors on Tuesday and has chosen the investment banking arm of Samba Financial Group to arrange the deal, the filing added.

No value or tenor of the planned sukuk was given in the statement.

Alhokair operates across 20 markets, predominantly in the Middle East and Commwealth of Independent States.

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