March 8, 2018 / 4:58 AM / 2 years ago

Saudi Dar Al Arkan Real Estate hires banks ahead of 5-year dollar sukuk deal

DUBAI, March 8 (Reuters) - Dar Al Arkan Real Estate Development Co has mandated banks to arrange fixed-income investor meetings from March 12 in Europe, the United Arab Emirates, Singapore and Hong Kong ahead of a planned U.S. dollar five-year sukuk offering, according to a document issued by one of the banks.

If the deal goes ahead, Dar Al Arkan will be the first Saudi company to issue an international bond this year.

The banks mandated are Alkhair Capital, Deutsche Bank, Dubai Islamic Bank, Emirates NBD Capital, Goldman Sachs International, Nomura, Noor Bank and Standard Chartered Bank, who will act as joint bookrunners, the document seen by Reuters shows. (Reporting by Davide Barbuscia; Editing by Amrutha Gayathri)

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