Saudi borrower shows sentiment pick up in Middle East

29 Jan 2010

A Saudi real estate company met investors this week in the first sign of life from the Middle East new issue market since November, but the repercussions from Dubai World’s standstill announcement continue.

Dar al-Arkan Real Estate, a residential property firm in Riyadh, has been meeting investors in a two week roadshow that began on January 21. Deutsche Bank, Goldman Sachs, and Unicorn Investment Bank are arranging the investor meetings.

The company has $600m of three year bonds maturing on February ...

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