Islamic Finance

Saudi real estate company Dar Al Arkan appoints banks for potential USD sukuk

Saudi Arabia's Dar Al Arkan has mandated banks for a potential sukuk sale.

The potential US dollar sale will be a 7-year fixed rate Regulation S senior unsecured sukuk, the real estate company said in a bourse filing on Sunday (Feb 16).

It has mandated Alkhair Capital, Citi, Deutsche Bank, Dubai Islamic Bank, Emirates NBD Capital, Mashreq Bank, Nomura, Standard Chartered Bank and Warba Bank as Joint Lead Managers and Bookrunners to arrange fixed income investor meetings in the UAE and London, starting on Feb 17.

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