The decline in interest rates in Saudi Arabia has supported the company’s decision to seek finance, the top official added, noting that issuing a USD-dominated sukuk will enable the company to develop its projects.
Dar Alarkan announced its intention to issue five-year Regulation S US fixed-rate benchmark senior unsecured sukuk, based on the board meeting held on 10 September 2019 corresponding to 11/1/1441 H.
The sukuk offering amount shall be subject to market conditions, Dar Alarkan said in a filing to the Saudi Stock Exchange (Tadawul) on Wednesday.
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