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Bonds are issued by governments and corporations when they want to raise money. Image used for illustrative purpose. Image courtesy: Getty Images
Saudi-listed Dar Al Arkan Real Estate Development has fully redeemed its $600 million sukuk issued in 2019.
A total of 3,000 bonds, each with a par value of $200,000, were redeemed on February 15, 2025, the company confirmed on Monday.
Dar Al Arkan had launched the US dollar bonds in October 2019. It offered a coupon rate of 6.75%, with the maturity set for February 15, 2025.
(Writing by Cleofe Maceda; editing by Seban Scaria)
