Saudi Arabia's Dar Al-Arkan confident about $1bn sukuk repayments
2012-03-07 - | Saudi Arabia | Latest News - Saudi Arabia: Andy Raheja, the chief financial officer of Dar Al-Arkan has said the Saudi construction firm can repay a $1bn Islamic bond due this year and will not seek government aid, rejecting allegations that the company may struggle to pay its debts, Reuters has reported. The kingdom's largest property developer will use cash on hand and proceeds from land sales to repay the bond maturing in July, Said Raheja, The firm is also in talks with lenders to refinance a smaller SR700m ($190m) loan facility with an asset-backed Islamic facility using its Al Qasr Mall in Riyadh as collateral.  

View full article...
Latest News

Israeli Minister Katz 'Invites Saudi Crown Prince'

Saudi King Salman Says Determined To Confront Corruption

Senior Saudi Prince Condemns Trump's 'Opportunistic" Jerusalem Move

Saudi Arabian Embassy Says The Buyer Of The Da Vinci Painting Is Not The Saudi Crown Prince

Mystery Solved: Saudi Prince Is Buyer Of $450M DaVinci Painting

Mystery Buyer of $450 Million 'Salvator Mundi' Was a Saudi Prince

Will Saudi's Crown Prince be Time's Person of the Year?

Saudi Prince Plans a 'City of the Future.' Don't Bet on It

Kushner and Bin Salman Discussing a Saudi-funded Palestinian State, Report Claims

Why Saudi Prince bin Talal's 'Friends' Have Abandoned Him

Absolute Power in the Hands of a Crown Prince

Under Patronage of the King, Equestrian Club to Hold its Annual Grand Horse Racing on Saturday

Senior Saudi Prince Freed in $1 Billion Settlement Agreement

Custodian of the Two Holy Mosques Receives British Prime Minister

Senior Saudi Prince Mit'ab bin Abdallah Freed from Detention

Saudi Arabia Releases Senior Prince Arrested in Anti-Corruption Purge

Saudi Prince Who Wooed West Finds Few Friends in Tough Time

A Prince's Uncertain Fate Deepens Mystery in Saudi Arabia

Prince Khalid al-Faysal Performs Funeral Prayer on Princess Mudhawi

Prince Sultan bin Salman Inspects Archaeological Excavations at Thaj Site