Saudi Dar Al Arkan tightens pricing on $300 mln-$400 mln seven-year sukuk – document (Updates with revised guidance, demand) DUBAI, Feb 19 (Reuters) – Saudi Arabian real estate developer Dar Al Arkan has revised the pricing on its $300 million to $400 million seven-year sukuk to 7.125-7.25%, a document from one of the banks leading the deal showed on Wednesday.Dar Al Arkan, which began marketing the Islamic bonds at 7.375-7.5% on Wednesday, hired AlKhair Capital, Citi, Deutsche Bank, Dubai Islamic Bank, Emirates NBD Capital, Mashreqbank, Nomura, Standard Chartered Bank and Warba Bank to lead the deal.The issuer has received more than $1 billion in orders for the deal, which is expected to close later on Wednesday.The sukuk, or Islamic bonds, will be issued through Dar Al Arkan Sukuk Company Ltd and guaranteed by Dar Al Arkan Real Estate Development.(Reporting by Yousef Saba; Editing by Muralikumar Anantharaman and Edmund Blair) First Published: 2020-02-19 07:54:50 Updated 2020-02-19 12:21:50
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