Dar Alarkan to redeem Islamic Sukuk worth $500mln

Dar Alarkan Real Estate Development Co. announced that it has completely redeemed its $500 million Islamic Sukuk (2022 Series 4 MTN).

The company added that number of redeemed sukuk is 500,000 issued on April 5^th 2017, while the trading end date      is April 10^th 2022.

Sukuk par value at redemption date is $1,000, while total issuance value after redemption is Nil U.S. dollar.

Additional Information:

The financial impact of this transaction will appear in the results of Q2, 2022.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.