Saudi developer Dar Al Arkan sells $600 mln in Islamic bonds
09/10/2019 14:30
DUBAI, Oct 9 (Reuters) - Saudi Arabian real estate developer
Dar Al Arkan 4300.SE is set to raise $600 million through an
issuance of sukuk, or Islamic bonds, a document issued by one of
the banks leading the deal showed on Wednesday.
The paper, which is due in 2025 and has attracted orders of
more than $1.6 billion, offers investors a profit rate of 7%,
according to the document, down from initial price guidance of
7.25% to 7.375% issued earlier on Wednesday. urn:newsml:reuters.com:*:nL5N26U0SQ
AlKhair Capital, Deutsche Bank DBKGn.DE , Dubai Islamic
Bank DISB.DU , Emirates NBD Capital, Goldman Sachs
International, Nomura 9716.T , Noor Bank, Standard Chartered
Bank STANB.UL and Warba Bank WARB.KW have been hired to
arrange the deal.
(Reporting by Davide Barbuscia; Editing by Jan Harvey)
((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters
Messaging: davide.barbuscia.reuters.com@reuters.net))