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Initial price thoughts (IPTs) for Saudi Arabia-based Dar Al-Arkan Real Estate Development Co.’s 5-year Regulation S USD fixed rate benchmark senior unsecured sukuk are in the 7.750% area.
Books open today. The profit rate is fixed and paid semi-annually.
The Ijara-commodity Murabaha sukuk is expected to be rated B1 by Moody’s. The issuance will be listed on LSE’s Main Market and Nasdaq Dubai.
(Writing by Brinda Darasha; editing by Daniel Luiz)
