Riyadh – Mubasher: Dar Alarkan Real Estate Development Company has completed issuing US fixed-rate RegS Senior Unsecured Sukuk.

The company has successfully closed the sixth tranche Sukuk issuance under its dollar-denominated Islamic Sukuk Programme with a size of SAR 2.250 billion ($600 million), according to the company’s statement to the Saudi Stock Exchange (Tadawul) on Thursday.

The order book for the Sukuk was opened on Wednesday 9 October and closed on the same day.

The issuance received significant interest from international market participants with the order book reaching SAR 6.26 billion ($1.67 billion).

It is worth mentioning that Dar Alarkan has appointed Alkhair Capital, Deutsche Bank, Dubai Islamic Bank, Emirates NBD Capital, Goldman Sachs International, Noor Bank, Standard Chartered Bank and Warba Bank to manage the sixth tranche issuance.

Moreover, the bonds will be listed on the Irish Stock Exchange (Euronext Dublin).