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Dar Al Arkan to price 5-year Islamic bond

: Thursday, May 22 - 2014 @ 01:14

Saudi property developer, Dar Al Arkan Real Estate Development Co plans to price a benchmark-sized, dollar-denominated sukuk of five years duration this week, Reuters has reported, citing a document from lead arrangers. The developer held a global investor call Tuesday, having chosen eight banks in total to arrange both it and the potential sukuk that may follow, the document said. Dar Al Arkan is rated ‘B+’ by Standard & Poor’s, four notches below the lowest investment grade score.

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Thursday, May 22- 2014 @ 1:14 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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