UAE mall developer Majid Al Futtaim Holding (MAF) expects to raise between $350 million and $500 million from a potential second bond issue this year, a senior company executive said on Tuesday.
MAF, the sole franchisee of French hypermarket chain Carrefour, launched meetings with investors in Singapore and London on Wednesday and is expected to issue a dollar-denominated bond, subject to market conditions.
"We think markets are conducive and we want to refresh our story out there," Daniele Vecchi, senior vice president for treasury at MAF said, adding the developer is looking to raise between $350 million and $500 million.
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