| 09 Mar 2010 |
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DAAR International Sukuk Company - Principal amounts repayment confirmation
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DAAR International Sukuk Company confirms that, the redemption process was completed on the 8th of March 2010, The Company transferred the total value of principal amounts to the principal paying agent (Deutsche Bank) on Thursday, 4th of March 2010. The paying agent completely transferred the amounts to the Sukuk holders accounts on Monday, 8th of March 2010.
It is worth mentioning that the Company's timely repayment of its due debt is a testimony on its strong financial position and the efficiency and effectiveness of its cash flow management which maintained this excellence level on the operational level and profitability, while honoring its obligation to its creditors.Finally, we would like to thank our investor base generally and specifically all the Sukuk holders who participated in this landmark transaction for their trust in Dar Al-ArkanDar Al-Arkan
's name, its business model, its strategy, and its credit profile. - Ends -
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Zawya is a distributor (and not a publisher) of content supplied by third parties and subscribers. Any opinions, advice, statements, services, offers, or other information or content expressed or made available by those third parties, including information providers, subscribers or other users of the Service, are those of the respective author(s) or distributor(s) and not of the Company. The Company neither endorses nor is responsible for the accuracy or reliability of any opinion, advice or statement made on the Service by anyone other than authorized Service employee spokespersons while acting in their official capacities. The Company is not responsible for any infringement of intellectual property rights or breach of any applicable law or regulation, including regulation in relation to financial services or the distribution of financial products, defamation, data protection, telecommunications (including regulations relating to excessive use, spamming or other abusive activities) or obscene, offensive or illegal content). Under no circumstances will the Company be liable for any loss or damage caused by a member's reliance on information obtained through the Service. It is the responsibility of member to evaluate the accuracy, completeness or usefulness of any information, opinion, advice or other content available through the Service. Please seek the advice of professionals, as appropriate, regarding the evaluation of any specific information, opinion, advice or other content.
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