Dar Al Arkan repays fifth tranche of sukuk worth $500 mln

Logo of Dar Al Arkan Real Estate Co.

Dar Al Arkan Real Estate Development Co. repaid the fifth tranche of sukuk worth $500 million, it said in a statement to Tadawul.

 

The developer used its internal resources to repay the sukuk on due date and transferred the principal to the designated account.

 

Sukuk Details

Offering type

Islamic sukuk (Fifth tranche, ISIN: XS1794398831)

Value of redeemed sukuk      

$500 mln (SAR 1.88 bln)

Percentage of redeemed sukuk from total offering     

100%

Total number of redeemed sukuk

500,000

Offering date

March 21, 2018

Trading end date

March 21, 2023

Sukuk par value at redemption date

$1,000

Total issuance value after redemption      

--

Date of depositing amounts in sukuk holders' accounts

March 21, 2023

Entity responsible for the deposit    

Deutsche Bank (Paying agent and sukuk holders' agent)
 

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