Dar Al-Arkan pays USD 24.2 million in Sukuk coupon (7073X)
20 Febbraio 2012 - 10:18AM
UK Regulatory
TIDM44GO
RNS Number : 7073X
Dar Al-Arkan International Sukuk II
20 February 2012
Dar Al-Arkan Real Estate Development Company (DAAR) announced
that it made a payment of USD 24.2 million due as a semi-annual
payment for its Sukuk IV issuance maturing in 2015.
Commenting on this, Mr. Anand Raheja, DAAR's CFO said, "DAAR is
a reputed issuer of international and local Sukuks with has a track
record of always honoring its all obligations when they come due".
Mr. Raheja emphasized that DAAR is on track to meet all upcoming
debt obligations while maintaining its project expenditure. He
added, "The Company's cash reserve stood at USD 665 million (SAR
2.5 billion) as end of 2011, this build-up is in accordance with
our strategy of relying on internal resources to repay the $1
billion Sukuk maturing in July 2012".
This information is provided by RNS
The company news service from the London Stock Exchange
END
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