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Tuesday, 14 February 2017

Dubai's Majid Al Futtaim Said to Select Banks for Perpetual Bond - Bloomberg

Dubai's Majid Al Futtaim Said to Select Banks for Perpetual Bond - Bloomberg:

"Majid Al Futtaim Holding LLC, the Middle East operator of Carrefour SA stores, picked banks for the potential sale of benchmark-sized dollar bonds, three people familiar with the matter said. Privately-owned Majid Al Futtaim, also known by its acronym MAF, selected lenders including HSBC Holdings Plc, Standard Chartered Plc and National Bank of Abu Dhabi PJSC to arrange the perpetual bond sale, two of the people said, asking not to be identified because the information is private. A deal could happen in the first half, but the company may decide against it if market conditions aren’t favorable, they said. Perpetual debt can be treated as equity, allowing companies to increase capital outside stock markets. Benchmark-sized issues usually raise at least $500 million."



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