New Issue: Saudi Arabia’s Dar Al-Arkan sells $500 million 6 7/8% five-year Islamic bonds

By Colin Hanner

Chicago, April 6 – Dar Al-Arkan Real Estate Development Co. priced $500 million of 6 7/8% five-year Islamic bonds on Wednesday, according to a company news release.

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.

Issuer:	Dar Al-Arkan Real Estate Development Co
Issue:	Islamic bonds
Amount:	$500 million
Maturity:	April 10, 2022
Bookrunners:	Alkhair Capital, Deutsche Bank, Dubai Islamic Bank, Emirates NBD Capital, Goldman Sachs International, Noor Bank and QInvest
Coupon:	6 7/8%
Pricing date:	April 5

© 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.