Dubai’s DIFC Investments Hires Banks for Potential Islamic Bond - Bloomberg

Dubai’s DIFC Investments Hires Banks for Potential Islamic Bond - Bloomberg:



"DIFC Investments LLC, the developer and operator of the Dubai International Financial Centre, hired banks for a possible sukuk sale, according to two people familiar with the matter.



The Dubai-based company appointed Dubai Islamic Bank PJSC, Emirates NBD Capital Ltd., Noor Bank and Standard Chartered Plc to arrange meetings with fixed income investors in Asia, the Middle East and Europe starting Oct. 30, the people said, asking not to be identified because the information isn’t public. It may sell a dollar-denominated, benchmark-sized sukuk, subject to market conditions, the people said. 




DIFC Governor Essa Kazim said last month the state-controlled company planned to raise about $700 million before the end of October. DIFC Investments joins a growing number of issuers seeking to tap Muslim investors in an industry that Ernst & Young LLP forecasts may almost double to $3.4 trillion in 2018."



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