Dar al Arkan sukuk rallies hard in secondary market

Dar Al Arkan’s $450m 5.75% five year sukuk has performed well in secondary markets. The paper traded up to 100.75 bid on Wednesday, having been priced below par at 99.47 the day before.

  • 23 May 2013

Despite Dar's strong gain on the break, investors insisted that the Saudi real estate company had been right not to push for a tighter yield to maturity. The sukuk was issued below par, presenting investors with a 5.875% profit rate.

“This company has yet to develop a loyal investor ...

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