Wednesday 11 July 2012

UAE's Emaar Properties eyes 7-yr benchmark sukuk - sources | Reuters

Emaar Properties, builder of the world's tallest tower, plans to issue a seven-year benchmark-sized Islamic bond, or sukuk, this week, two market sources said on Wednesday.

Initial profit talk for the sukuk is indicated to be at 6.75 percent. The company is due to meet investors in London on Wednesday, with pricing due early on Thursday, the sources said.

Benchmark-sized is normally understood to mean at least $500 million.

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