Majid Al Futtaim (MAF) Holding, the sole franchisee for hypermarket chain Carrefour in the Gulf, has picked four banks to set up a $1 billion Islamic bond programme, a prospectus issued by the Dubai-based mall developer showed.
Local lenders Dubai Islamic Bank and Abu Dhabi Islamic Bank join HSBC and Standard Chartered on the programme, according to the prospectus dated January 6.
Reuters reported in October that HSBC and Standard Chartered would arrange the documentation for a planned Islamic bond, or sukuk, programme and create a process for other banks to pitch for lead manager slots at a future date.
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