Dubai’s Emirates REIT plans debut sukuk of at least $300 mln this year -source

Dubai’s Emirates REIT plans debut sukuk of at least $300 mln this year -source:

"Dubai-based Emirates REIT , a sharia-compliant real estate investment trust, plans to issue a debut Islamic bond of at least $300 million by the end of this year, said a source close to the company. The sukuk, to be denominated in U.S. dollars, could potentially replace all of the company’s outstanding debt, said the source, who spoke on condition of anonymity because of commercial sensitivities. The addition of a new issuer to the Gulf’s international bond market comes at a time of record debt sales in the region, as governments raise debt to plug budget deficits and corporates change their capital structures in an era of low oil prices."



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