Dar Al Arkan Real Estate Development Co. has announced the successful completion of issuing the US$ fixed rate RegS Senior Unsecured Sukuk, it said in a bourse statement.

 

With a size of SAR 2.25 billion, the issuance received significant interest from international market participants, allowing the order book to reach SAR 6.26 billion.

 

The order book for the sukuk opened on Oct.9, 2019 and closed on the same day with a long five-year tenor at a profit rate of 6.75 percent per annum.

 

Dar Al Arkan has appointed Alkhair Capital, Deutsche Bank, Dubai Islamic Bank, Emirates NBD Capital, Goldman Sachs International, Noor Bank, Standard Chartered Bank and Warba Bank to manage the sixth tranche issuance.

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