Dubai's DAMAC launches sukuk at tight end of guidance | Reuters

Dubai's DAMAC launches sukuk at tight end of guidance | Reuters:



"Dubai's DAMAC Real Estate launched its five-year, $650 million sukuk issue on Wednesday at midswaps plus 310 basis points, at the tight end of revised guidance, a document from arrangers showed.



The size of the issue was expanded to $650 million from the originally planned $500 million. Books exceeded $2.8 billion shortly before they closed.



On Tuesday, DAMAC set initial price thoughts for the sukuk at midswaps plus the mid-300s, tightened later that day to the midswaps plus 325 bps area."



'via Blog this'