Dar Al Arkan plans USD-denominated sukuk sale: Report

13/07/2023 Argaam
Logo ofDar Al Arkan Real Estate Development Co.

Logo of Dar Al Arkan Real Estate Development Co.

Dar Al Arkan Real Estate Development Co. commissioned banks to arrange a planned sale of USD-denominated sukuk, Reuters reported, citing a bank document.

 

According to the document, the company will issue standard-sized unsecured priority of payment sukuk maturing in February 2029, depending on market conditions.

 

Starting from today, July 13, the parties in charge of arranging the issuance and managing the offering will jointly hold calls and meetings with investors in fixed income instruments, the news agency added. 

 

Dar Al Arkan hired Abu Dhabi Commercial Bank, Alkhair Capital, Al Rayan Investments, Commercial Bank of Dubai, Emirates NBD Capital, First Abu Dhabi Bank, JPMorgan, Mashreq Bank, Sharjah Islamic Bank, Standard Chartered and Warba Bank to lead and arrange the offering. 

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