MAF tightens pricing ahead of $500m bond sale | GulfNews.com:
"Dubai-based shopping mall developer Majid Al Futtaim (MAF) has tightened price guidance on its planned 10-year $500 million (Dh1.8 billion) bond issue, which is due to be sold later on Tuesday, a document from lead arrangers showed.
High demand for the offering — the order book was currently north of $2 billion, arranging banks said — has helped MAF reduce the prospective cost of its borrowing.
The bond will price in the range between 195 basis points (bps) and 200 bps over midswaps, the document said. This is down from the 212.5 bps area over midswaps communicated earlier on Tuesday."
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