‎Dar Al Arkan redeems $600M Islamic sukuk

Dar Alarkan Real Estate Development Co. announced the full redemption of its $600 million Islamic sukuk (sixth tranche), identified under ISIN XS2066049219.

In a statement to Tadawul today, Feb. 17, the company said internal resources were used to settle the sukuk at maturity. The funds have been transferred to the designated account.

The financial impact of the transaction will be reflected in Q1 2025 results.

The following table shows the details of the redeemed sukuk:

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Dar Al Arkan closed its sixth sukuk tranche in 2019 under its USD-denominated Islamic sukuk program. The issuance totaled SAR 2.25 billion ($600 million), according to Argaam’s data.

The company issued 3,000 sukuk, each with a $200,000 par value and a 6.75% annual yield. Full redemption was set for Feb. 15, 2025.

Dar Alarkan Real Estate Development Co. announced the full redemption of its $600 million Islamic sukuk (sixth tranche), identified under ISIN XS2066049219.

In a statement to Tadawul today, Feb. 17, the company said internal resources were used to settle the sukuk at maturity. The funds have been transferred to the designated account.

The financial impact of the transaction will be reflected in Q1 2025 results.

The following table shows the details of the redeemed sukuk:

Dar Al Arkan closed its sixth sukuk tranche in 2019 under its USD-denominated Islamic sukuk program. The issuance totaled SAR 2.25 billion ($600 million), according to Argaam’s data.

The company issued 3,000 sukuk, each with a $200,000 par value and a 6.75% annual yield. Full redemption was set for Feb. 15, 2025.