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Dar Al Arkan redeems SAR 1.5bn sukuk

Dar Al Arkan redeems SAR 1.5bn sukuk
The sukuk are payable in 28 May
-0.67% 11.92 -0.08

Riyadh – Mubasher: Dar Al Arkan Real Estate Development Company has announced the redeeming of SAR 1.5 billion ($400 million) SERIES 3 MTN 2019 Sukuk payable on 28 May.

Earlier in 2019, the Tadawul-listed company bought SAR 264.3 billion ($70.48 million) sukuk, according to a bourse statement released on Thursday.

Dar Alarkan reported a 92.3% year-on-year drop in profits for the first quarter of 2019, recording SAR 25.51 million.