"Nakheel's sukuk yields spiked yesterday, as the developer discusses its options on how to refinance its upcoming debt repayments.
Yields for the developer of Dubai's man-made islands on its Islamic bonds maturing in 2016 hit their highest level since November last year. They had spiked 272.3 basis points to 10.2 per cent since May 22, when the US central bank chairman Ben Bernanke first discussed the possibility of rolling back the country's quantitative easing policy.
Bond yields move in the opposite direction from prices. Nakheel disclosed in February that it was in talks to extend a Dh8 billion loan which falls due in 2015, but reports published yesterday suggested it was talking to banks about a potential bond sale."
'via Blog this'
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