Dar Alarkan Real Estate Development Co. announces the completion of issuing US$ fixed rate RegS Senior Unsecured Sukuk
| Element List | Explanation |
|---|---|
| Introduction | DAAR is pleased to announce the successful closing of its 14th issuance of sukuk which is a tenth tranche Sukuk issuance under its USD denominated Islamic Sukuk Programme with a size of SAR 2.812 billion (USD 750 million).
The order book for the Sukuk was opened on Wednesday 25th of June 2025 and closed on the same day. With a 5-year tenor at a profit rate of 7.25 % per annum. The issuance received significant interest from regional and international market participants with the order book reaching SAR 10.8 billion (US$ 2.87 billion). Dar Al Arkan has appointed Abu Dhabi Commercial Bank PJSC, Abu Dhabi Islamic Bank PJSC, Alkhair Capital (Dubai), Al Rayan Investment LLC, Arqaam Capital, Bank ABC, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, J.P. Morgan, Mashreq, Sharjah Islamic Bank, Standard Chartered Bank, and Warba Bank to manage the tenth tranche issuance. |
| Offer Type | US$ fixed rate RegS Senior Unsecured Sukuk |
| Value of the offer | SAR 2.812 billion (USD 750 million) |
| Total number of (Bonds/Sukuk) | 3,750 |
| Par Value (Bonds/Sukuk) | US$200,000 |
| Return (Bonds/Sukuk) | 7.25% per annum |
| Maturity (Bonds/Sukuk) | 02 July 2030 |
| Terms of Redemption | Full redemption on maturity |
| Additional Information | The stabilisation rules of the Financial Conduct Authority (FCA) in London and the International Capital Market Association (ICMA) will also apply to the issuance. The bonds will be listed on the London Stock Exchange and Nasdaq Dubai. |
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