Published: May 20, 2013
Saudi real-estate developer hires Goldmans, Deutsche and others for first tranche of 12-month programme.
Dar Al-Arkan (DAAR), a Saudi real-estate developer, has set up a new international sukuk programme.
The programme will allow the company to issue dollar-denominated sukuk in multiple tranches over the coming 12 months. Money raised will be used to fund the company’s projects.
Bank Al Khair, Goldman Sachs, Deutsche Bank, Emirates NBD Capital, Masraf Al Rayan and Qinvest have been mandated to lead the first issuance.