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Another sukuk issue by Saudi firm draws investors

Published Wed, May 21, 2014 · 10:00 PM
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[DUBAI] Dar Al Arkan's third Islamic bond sale in a year is attracting buyers as investors bet the Saudi Arabian company's real estate assets outweigh a junk credit rating at Standard & Poor's (S&P).

Dar Al Arkan Real Estate Development Co is poised to sell a benchmark US dollar-denominated sukuk due 2019, according to two people with knowledge of the offering, who asked not to be identified.

The yield on the company's May 2018 sukuk slid …

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