Jul 16 2012
|more articles from|
Dar Al Arkan International Sukuk Company - 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.
DAAR's 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.
© Copyright Zawya. All Rights Reserved.
People Who Read This Also Read
- Saudi Real Estate Sector Update
- Dar Al Arkan International Sukuk Company - Dar Al Arkan (DAAR) announces that Standard & Poor's has removed the negative credit watch from DAAR's rating, and affirmed DAAR's long-term corporate rating at B+, with a stable outlook
- DFSA announces the delisting of Dar Al Arkan International Sukuk Company US$1,000,000,000 Trust Certificates due (ISIN: XS0309559192) following complete and final redemption
- Emaar Sukuk Limited (2019) - Final Terms