Tamweel PJSC (TAMWEEL) may consider tapping the debt market again this year after the United Arab Emirates mortgage lender raised $300 million from the sale of Islamic bonds in January.
“We may potentially go back to the market this year for either a sukuk or securitization,” acting Chief Executive OfficerVarun Sood said in an interview in Dubai today. “It would be a similar transaction to what we did earlier this year.”
The mortgage company, controlled by Dubai Islamic Bank PJSC (DIB), sold $300 million in sukuk in January, its first offering since 2008. The yield on its 5.154 percent bonds due January 2017 was at 5.13 percent today, according to data compiled by Bloomberg.
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