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Monday, 10 April 2017

UAE's DAMAC gives initial price guidance for dollar sukuk - lead | Reuters

UAE's DAMAC gives initial price guidance for dollar sukuk - lead | Reuters:

"DAMAC Properties, a United Arab Emirates real estate company, has set initial price guidance for its planned five-year dollar sukuk in the mid 6 percent area, a document from one of the banks leading the deal showed on Monday. The Regulation S senior, unsecured Islamic bond will be of benchmark size, which usually means upwards of $500 million. The sukuk is expected to price on April 11, the document said. DAMAC, the second-largest listed Dubai developer, is rated BB with a stable outlook by Standard & Poor's."



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