Dar Al-Arkan pays USD 9.2 million in Sukuk coupon (1823V)
09 January 2012 - 6:00PM
UK Regulatory
TIDM44GO
RNS Number : 1823V
Dar Al-Arkan International Sukuk II
08 January 2012
Dar Al-Arkan pays USD 9.2 million in periodic coupon
distribution to its Sukuk II & Sukuk III holders.
Dar Al-Arkan Real Estate Development Company (DAAR) announced
that on the 8th of January, 2012 it made a payment of USD 9.2
million quarterly coupon distributions, of which USD 6.8 million
for Sukuk II maturing in 2012, and USD 2.4 million for Sukuk III
maturing in 2014. The periodic coupon distribution for Sukuk II is
based on 3 Month Libor (0.40306% calculated on 13/10/2011) plus a
profit margin of 2.25%. The periodic coupon distribution for Sukuk
III is based on 3 Month Saibor (0.66000% calculated on 15/10/2011)
plus a profit margin of 4.00%.
Commenting on this, Mr. Andy Raheja, DAAR's CFO said, "By
continuously honoring its obligations on time DAAR has proven
itself as a reputed issuer of international and local Sukuk", he
added, "The Company's net debt of SAR 5.7 billion as of 30/09/2011
represents approximately 26% of our assets and as such the overall
debt levels are very reasonable by the industry standard".
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This information is provided by RNS
The company news service from the London Stock Exchange
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