Dar Alarkan Real Estate Development Co. Announces Intention to Redeem the Issued Islamic Sukuk Amounting to $600 Million
| Element List | Explanation |
|---|---|
| Introduction | Dar Al Arkan real Estate Development company is pleased to announce that it is has completely redeemed its $600 million Sukuk ISIN X2066049219 - 2025 SERIES 6 MTN |
| Offer Type | Islamic Sukuk Amounting to $600 Million |
| Value of the redeemed (sukuk bonds) | 600 Million US Dollar |
| Percentage of Redeemed (Bonds/Sukuk) out of Total Issued (bonds/sukuk) | 100 % |
| Number of redeemed (bonds/sukuk) | 3000 |
| Issuance Date | 2019-10-15 Corresponding to 1441-02-16 |
| Trading End Date | 2025-02-15 |
| Sukuk Par Value at Redemption Date | 200,000 US Dollar |
| Total issuance value after redemption | Nil US Dollar |
| Date of Depositing the Amounts in the (Bonds/Sukuk) Holders Accounts | 2025-02-17 Corresponding to 1446-08-18 |
| Name of the Entity Responsible for the Deposit and Contact Details | HSBC Bank (Paying Agent and Sukuk Holders' Agent)
Email: ctla.payingagency@hsbc.com |
| Additional Information | The financial impact of this transaction will appear in the results of Q1, 2025. The company used its internal resources to pay the Sukuk on due date and transferred the principal to the designated account.
DAAR Company would like to thank its investor base, specially all the Sukuk-holders who participated in this transaction, for repeatedly placing their trust in DAAR Company, its Board, and its executive management. |
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