Logo ofDar Al Arkan
Dar Al Arkan intends to issue USD-denominated, Shariah-compliant, fixed-rate, senior unsecured sukuk under Regulation S (Reg S), according to a statement to Tadawul. 
The real estate developer mandated Abu Dhabi Commercial Bank (ADCB), Abu Dhabi Islamic Bank (ADIB), Al Rayan Investment, Arqaam Capital, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, J.P. Morgan, Mashreq Bank, Sharjah Islamic Bank, Standard Chartered Bank, and Warba Bank as joint lead managers and bookrunners to arrange a series of fixed income investor meetings starting today, May 18.
This will be followed by a USD sukuk issuance in global markets, subject to regulatory approvals and market conditions, with the final size to be determined based on prevailing conditions. The proceeds will be used for general corporate purposes.
The company added that the issuance is subject to regulatory approvals and that UK Financial Conduct Authority (FCA) and International Capital Market Association (ICMA) stabilization rules will apply. It will disclose any material developments in due course.
Logo ofDar Al Arkan
Dar Al Arkan intends to issue USD-denominated, Shariah-compliant, fixed-rate, senior unsecured sukuk under Regulation S (Reg S), according to a statement to Tadawul.
The real estate developer mandated Abu Dhabi Commercial Bank (ADCB), Abu Dhabi Islamic Bank (ADIB), Al Rayan Investment, Arqaam Capital, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, J.P. Morgan, Mashreq Bank, Sharjah Islamic Bank, Standard Chartered Bank, and Warba Bank as joint lead managers and bookrunners to arrange a series of fixed income investor meetings starting today, May 18.
This will be followed by a USD sukuk issuance in global markets, subject to regulatory approvals and market conditions, with the final size to be determined based on prevailing conditions. The proceeds will be used for general corporate purposes.
The company added that the issuance is subject to regulatory approvals and that UK Financial Conduct Authority (FCA) and International Capital Market Association (ICMA) stabilization rules will apply. It will disclose any material developments in due course.
