Dar Alarkan Real Estate Development Co. announces intention to issue US$ fixed rate "RegS" Senior Unsecured Sukuk
| Element List | Explanation |
|---|---|
| Issuance Type | US$ fixed rate "RegS" Senior Unsecured Sukuk |
| Board Resolution Date | 2019-09-10 Corresponding to 1441-01-11 |
| Issuance Amount | subject to market conditions |
| Purpose of Issuance | General corporate purposes |
| Approvals | Sukuk issuance will be subject to approvals. Relevant stabilisation rules and regulations apply including FCA/ICMA. |
| Additional Information | Dar Al-Arkan Real Estate Development Company, rated B1 by Moody's, has mandated Alkhair Capital, Deutsche Bank, Dubai Islamic Bank, Emirates NBD Capital, Goldman Sachs International, Noor Bank, Standard Chartered Bank and Warba Bank as Joint Lead Managers and Bookrunners to arrange fixed income investor meetings in the Middle East, London, Singapore and Hong Kong commencing on 3 October 2019. A long 5 year Regulation S US$ fixed rate benchmark senior unsecured sukuk offering will follow subject to market conditions.
Dar Al Arkan Company will announce all details and further developments in due course. |
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