Dar Al Arkan eyes int’l sukuk sale: Dar Al Arkan Real Estate Development is currently sounding out the market for a USD-denominated senior unsecured sukuk sale to meet its general corporate needs, according to a disclosure to Tadawul.

The firm will issue fixed-rate notes in a Reg S-compliant offering, making it easier for foreign institutions to buy in. The value of the offer will be subject to market conditions.

ADVISORS- Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Alkhair Capital, Al Rayan Investment, Arqaam Capital, Bank ABC, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, JP Morgan, Mashreq, Sharjah Islamic Bank, Standard Chartered Bank, and Warba Bank are joint lead managers and bookrunners on the transaction.

ALSO- Fakeeh Care lines up hefty credit boost from Alinma: Soliman Abdul Kader FakeehHospital (Fakeeh Care Group) lined up SAR 938 mn in financing from Alinma Bank under a freshly-inked credit facility agreement, it said in a filing to Tadawul. The new agreement replaces older facilities totaling SAR 1.4 bn.

The breakdown: The package includes SAR 638 mn in long-term facilities and SAR 300 mn in short-term facilities, though no specific tenor or repayment timeline was disclosed.

Where will the money go? The healthcare company — which went public in what was Tadawul’s largest IPO last year — will use the fresh funds, which are accessible to all of its subsidiaries, to support the group’s growth and expansion plans, according to the disclosure.

IN OTHER DEBT NEWS-

Nomu-listed Al Qemam for Computer Systems will open books on its SAR 4 mn sukuk sale today, it said in a disclosure to Tadawul yesterday. The offering will be open to both retail and institutional investors across the Kingdom until Monday, 25 August, with a minimum subscription of SAR 1k.

ADVISORS-Al Qemam tapped Sukuk Financial Company as the sole arranger for the transaction.

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