Dar Al-Arkan plans to issue US$ fixed rate senior unsecured sukuk

02/10/2019 Argaam

 

Dar Al-Arkan Real Estate Development Co. plans to issue US$ fixed rate "RegS" Senior Unsecured Sukuk, it said in a bourse statement.

 

The move follows a board of directors' decision on Sept.10, 2019, to issue the sukuk for the general corporate purposes.

 

The company said it has mandated Alkhair Capital, Deutsche Bank, Dubai Islamic Bank, Emirates NBD Capital, Goldman Sachs International, Noor Bank, Standard Chartered Bank and Warba Bank as joint lead managers and book-runners to arrange fixed income investor meetings in the Middle East, London, Singapore and Hong Kong commencing on Oct.3, 2019.

 

Dar Al-Arkan will announce details and further developments in due course.

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