Saudi Arabia’s Dar Al-Arkan Real Estate talks $600 million long five-year sukuk to yield 7%

By Rebecca Melvin

New York, Oct. 9 – Dar Al-Arkan Real Estate Development Co. was talking a $600 million offering of long five-year Islamic bonds (expected rating: B1) to yield 7%, according to a market source on Wednesday.

The notes maturing Feb. 15, 2025 were expected to price later in the session.

Alkhair Capital, Deutsche Bank, Dubai Islamic Bank, Emirates NBD Capital, Goldman Sachs International, Noor Bank, Standard Chartered Bank and Warba Bank are joint lead managers and bookrunners of the Regulation S deal.

The deal is pricing following fixed-income investor meetings that were scheduled to be held in the Middle East, London, Singapore and Hong Kong.

The issuer is a Saudi Arabia-based property developer.

© 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.