Dar Al-Arkan scores $600m close to the curve in sukuk comeback

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By Lewis McLellan
10 Oct 2019

Dar Al-Arkan, a Saudi Arabia-based real estate developer, raised $600m on Wednesday with a February 2025 sukuk, defying market volatility to offer little in the way of new issue premium.

Trade tensions between the US and China made for a difficult backdrop early this week, but a banker at one of the leads said: “It’s a very liquid company, and the Saudi real estate market seems to have bottomed out, so it’s a great story. I think that ...

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