Saudi Dar Al Arkan starts marketing $300-$400 mln 7-year sukuk - document - Reuters:
Saudi Arabia’s Dar Al Arkan Real Estate Development Co has begun marketing $300-$400 million in seven-year sukuk at 7.375-7.5%, a document from one of the banks leading the deal showed on Wednesday.
Dar Al Arkan hired AlKhair Capital, Citi, Deutsche Bank, Dubai Islamic Bank, Emirates NBD Capital, Mashreqbank, Nomura, Standard Chartered Bank and Warba Bank to lead the deal, which is expected to close later on Wednesday.
The sukuk will be issued through Dar Al Arkan Sukuk Company Ltd and is guaranteed by Dar Al Arkan Real Estate Development.
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