Saudi Arabia's Dar Al-Arkan Real Estate revises talk for five-year dollar sukuk

By Christine Van Dusen

Atlanta, May 21 - Saudi Arabia's Dar Al-Arkan Real Estate Development Co. revised talk to the 6¾% area for its upcoming issue of dollar-denominated and benchmark-sized Islamic bonds due in five years (expected rating: /B+/), a market source said.

The notes were initially talked in the high-6% area.

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.

The notes are expected to price this week.

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