05.03.2012 - Money flows into Saudi realty bonds amid economic boom
A flood of money into the bonds of Saudi Arabian property developer Dar Al Arkan is due to renewed confidence in the company’s ability to repay its debt, but also to a general scramble to buy Saudi assets as the economy booms. The yield on the company’s $1 billion, 2.817 percent floating rate sukuk, due to mature this July, has plunged from above 25 percent at the start of January to around 8 percent now as it became clear the Islamic bond would be repaid on schedule...............................................Full Article: Source
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