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DAR ALARKAN REAL ESTATE DEVELOPMENT COMPANY ANNOUNCES REPAYMENT OF ITS ISLAMIC SUKUK (2018 SERIES 1 MTN) DUE 24TH OF MAY 2018 AMOUNTING TO SAR 1.687 BN (US$450M)

DAR ALARKAN 4300 -0.13% 15.08 -0.02

Dar Al-Arkan Real-Estate Development Company (DAAR) is pleased to announce that it has completed the repayment of its SAR 1.687 bn (US$450m) Sukuk (2018 series 1 mtn), due on Thursday 24th of May 2018.
It is worth noting that the company bought back part of the Islamic Sukuk amounted to SAR 381 mn (US$101.7m) during 2017 and 2018, the remaining principal is SAR SAR 1.306 bn (US$348.3m).
DAAR transferred the remaining principal and profit to the designated account and the Sukuk account holders will receive funds on Thursday 24th of May 2018.
DAAR would like to thank its investor base, specifically all the Sukuk-holders who participated in this transaction, for repeatedly placing their trust in DAAR, its board and its management.

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