Riyadh – Mubasher: Dar Alarkan Real Estate Development Company plans to issue seven-year US dollar senior unsecured Sukuk.

The company revealed its intention to issue the fixed-rate regulation s Sukuk in a statement to the Saudi Stock Exchange (Tadawul) on Sunday, noting that the issuance amount is subject to the market conditions.

The issuance is subject to the needed approval, stabilisation rules and regulations, Dar Alarkan added.

The company appointed Alkhair Capital, Citi, Deutsche Bank, Dubai Islamic Bank (DIB), Emirates NBD Capital, Mashreq Bank, Nomura, Standard Chartered Bank, and Warba Bank as joint lead managers and bookrunners.

The mentioned banks will arrange fixed income investor meetings in the UAE and London, starting from 17 February 2020.