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Emerging Markets

Dar Al Arkan $450m sukuk shakes off market blues

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Dar Al Arkan’s $450m 5.75% five year sukuk bucked the recent trend by performing well in the secondary market after pricing on Tuesday. The paper traded up to 100.75 bid on Wednesday, having been priced at 99.47. And despite the general market sell-off on Thursday, the notes were still quoted at 100.25 by the close.

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