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Dar Alarkan Real Estate Development Co. Announces Intention to Redeem the Issued Islamic Sukuk Amounting to $500 Million
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DAR ALARKAN
2.17
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1444/08/29 21/03/2023 15:32:04
| Element List | Explanation |
|---|---|
| Introduction | Dar Alarkan Real Estate Development Co. is pleased to announce that it has completely redeemed its $ 500 Million Islamic Sukuk (2023 SERIES 5 MTN) |
| Offer Type | Islamic Sukuk Amounting to $500 Million |
| Value of the redeemed (sukuk\ bonds) | 500 Million US Dollar |
| Percentage of Redeemed (Bonds/Sukuk) out of Total Issued (bonds/sukuk) | 100 % |
| Number of redeemed (bonds/sukuk) | 500,000 |
| Issuance Date | 2018-03-21 Corresponding to 1439-07-04 |
| Trading End Date | 2023-03-21 |
| Sukuk Par Value at Redemption Date | 1,000 US Dollar |
| Total issuance value after redemption | Nil US Dollar |
| Date of Depositing the Amounts in the (Bonds/Sukuk) Holders Accounts | 2023-03-21 Corresponding to 1444-08-29 |
| Name of the Entity Responsible for the Deposit and Contact Details | Deutsche Bank (Paying Agent and Sukuk Holders' Agent) |
| Additional Information | The financial impact of this transaction will appear in the results of Q1, 2023.The company used its internal resources to pay the Sukuk on due date and transferred the principal to the designated account. DAAR would like to thank its investor base, specially all the Sukuk-holders who participated in this transaction, for repeatedly placing their trust in DAAR, its Board, and its executive management. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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