Investors and debt traders are planning their strategies to pick up new Nakheel Islamic bonds at discounts of up to 40 per cent when they are issued to trade creditors in the next three months.
Nakheel revealed last year that it would issue as much as US$3.2 billion (Dh11.75bn) of five-year bonds with a 10 per cent annual return to contractors who were owed money. The contractors would receive 40 per cent of their agreed-upon debts in cash.
Most of Nakheel's contractors will be eager to sell the sukuk on receipt to get much-needed cash into their businesses, analysts said.
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