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Saudi’s Dar al Arkan has enough cash after bond - CFO

Posted on 15 February 2010

From Arabianbusiness.com: Saudi home builder Dar al Arkan has enough cash to repay $586.7 million worth of an Islamic bond that matures next month, its chief financial officer said on Saturday.

Benoit Bellerose was speaking after Saudi Arabia’s biggest property developer by market value raised a lower than expected $450 million from a new five year sukuk, or Islamic bond, priced at 10.75 percent…………………………………Full Article: Source

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