Dar Al Arkan repays SAR 1.5 bln sukuk before time

26/05/2019 Argaam

 

Dar Al Arkan Real Estate Co. has fully repaid SAR 1.5 billion ($400 million) Shariah compliant Series 3 MTN 2019 sukuk, the developer said in a bourse statement.


The amount was due on May 28, 2019.


During 2019, the company has bought a part of the sukuk at SAR 264.3 million ($70.48 million) which left SAR 1.235 billion ($329.52 million) sukuk remaining.


The remaining amount was transferred into the relevant account and will be deposited into sukuk-holders accounts by Tuesday, May 28, 2019, the statement added.

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