Jul 16 2012
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DAR AL-ARKAN thanks its Investor base and confirms the repayment of Sukuk-II Principal amount.
Dar Al-Arkan Real Estate Development Company (DAAR) is pleased to confirm that, the redemption process of its Sukuk-II due on July 16, 2012 amounting to SAR 3.75 billion (US$1bn), was completed; Deutsche Bank (the principal paying agent) confirmed that the principal amounts have successfully been redeemed and the Sukuk account holders have received the funds.
DAARs timely repayment of its debt obligations is a testimony to its strong financial position, as well as the effectiveness and efficiency of its cash flow management strategies which allowed DAAR to maintain robust operational and profitability levels, while honoring all obligations to its creditors on a timely basis.
Dar Al-Arkan would like to thank its investor base, specifically all the Sukuk holders who participated in this transaction, for placing their trust in Dar Al-Arkan, its board and its management.
© Tadawul 2012
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