Nakheel properties has no plans to change a 10 per cent profit rate on its Dh4.8 billion sukuk (Islamic bonds) which it intends to issue towards the end of June, a newspaper said on Wednesday.
The Arabic language daily Al Khaleej quoted an unnamed responsible source in Nakheel as saying market reports about an imminent change in the profit rate were incorrect.
“These news are baseless…Nakheel is committed to all its promises to settle claims by creditors through sukuk issue with a profit rate of 10 per cent over a period of five years to be paid every six months,” the source told the paper.
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