دار الأركان تنتهي من طرح صكوك بقيمة 600 مليون دولار

Dar Al Arkan’s $600 million sukuk issuance draws SAR 5.61 billion order book

Dar Al Arkan Real Estate Development Co. announced the successful closing of its 15th issuance of sukuk, which is the 11th tranche of the sukuk issuance under its USD denominated Islamic Sukuk Program with a size of SAR 2.25 billion or $600 million, according to a statement to Tadawul.

 

The real estate developer said the order book for the sukuk opened on May 19, and closed on the same day.

 

Details

Issue Type

Shariah compliant, USD fixed rate "RegS" Senior Unsecured Sukuk

Issue Value

SAR 2.25 bln ($600 mln)

Total Number of Sukuk

3000

Nominal Value

$200,000

Return

7.25% annually

Maturity

May 26, 2031

Terms of Redemption

Full redemption on maturity

 

 The issuance received significant interest from regional and international market participants with the order book reaching SAR 5.61 billion ($1.50 billion), the statement added.

 

The company mandated Abu Dhabi Commercial Bank (ADCB), Abu Dhabi Islamic Bank (ADIB), Al Rayan Investment, Arqaam Capital, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, J.P. Morgan, Mashreq Bank, Sharjah Islamic Bank, Standard Chartered Bank, and Warba Bank to manage the 11th tranche issuance.

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