Dubai’s ICD launches $700m sukuk, $300m bond issue | GulfNews.com:
"Investment Corporation of Dubai (ICD), which holds some of the emirate’s main assets, has launched a $700-million Islamic bond, or sukuk, issue and a $300-million conventional bond, according to a lead manager.
The Gulf state is looking to take advantage of lower yields and increased appetite for its paper as it benefits from a strong rebound after the global financial crisis left its economy in tatters.
The debt sale this week comes after it raised $750 million late last month to help finance its fiscal debt, pay for infrastructure projects and to refinance more expensive obligations.
The profit rate for the six-year sukuk is 160 basis points over mid-swaps, while the spread on the 10-year conventional bond is 210bps over mid-swaps, according to a document from one of the lead managers."
'via Blog this'
No comments:
Post a Comment