Saudi Arabia's Dar Al-Arkan Real Estate sets talk for five-year dollar sukuk at high-6% area

By Christine Van Dusen

Atlanta, May 20 - Saudi Arabia's Dar Al-Arkan Real Estate Development Co. set initial price talk in the high-6% area for its upcoming issue of dollar-denominated Islamic bonds due in five years (expected rating: /B+/), a market source said.

Bank Alkhair, Deutsche Bank, Emirates NBD Capital and Goldman Sachs are the global coordinators and joint bookrunners. Al Hilal Bank, Barwa Bank, Al Rayan Investments and Qinvest are joint bookrunners for the Regulation S deal.

An investor call is set to take place on Tuesday.

The notes are expected to price this week.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.