Saudi Arabia’s Dar Al Arkan wraps roadshow for $500 million 6 7/8% five-year Islamic bonds

By Colin Hanner

Chicago, April 6 – Dar Al-Arkan Real Estate Development Co. announced the closing of the roadshow for its $500 million offering of 6 7/8% five-year Islamic bonds, a market source said.

The bonds mature on April 10, 2022.

The roadshow began on Tuesday and closed a day later on Wednesday, a market source said.

A market source said the issuance received significant interest from the market, with the order book closing closer to $1.05 billion.

Alkhair Capital, Deutsche Bank, Dubai Islamic Bank, Emirates NBD Capital, Goldman Sachs International, Noor Bank and QInvest were appointed as the joint bookrunners of the deal.

The issuer is a Saudi Arabia-based property developer.

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