Saudi Arabia's Dar Al-Arkan talks three-year sukuk at 6% area

By Christine Van Dusen

Atlanta, Nov. 20 - Saudi Arabia's Dar Al-Arkan Real Estate Development Co. set initial talk in the 6% area for its offering of three-year dollar-denominated Islamic bonds, a market source said.

Bank Alkhair, BofA Merrill Lynch, Deutsche Bank, Emirates NBC and Goldman Sachs are the bookrunners for the Regulation S deal.

The notes are expected to price this week.

The developer is based in Riyadh.

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