Thursday 23 June 2011

UAE's Majid Al Futtaim eyes 5-yr benchmark bond

UAE's Majid Al Futtaim Holding, is keeping a close eye on Europe's debt crisis as it assesses investors' appetite for a five-year benchmark-sized bond.

The sole franchisee of French hypermarket chain Carrefour in the Gulf is meeting investors after it set up a $2 billion global bond programme earlier this month.

"Investors prefer a five-year bond and this works for us too, Daniele Vecchi, senior vice president for treasury at MAF Group said on Thursday.

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