UAE's Majid Al Futtaim hires banks for dollar green sukuk - Reuters:
Majid Al Futtaim, a UAE-based developer and shopping mall operator, has hired banks to arrange a potential issue of U.S. dollar-denominated “green” sukuk, or Islamic bonds, a document by one of the banks leading the deal showed on Monday.
The company has hired BNP Paribas, Citigroup, and HSBC to coordinate the 10-year deal, along with Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates NBD Capital, and First Abu Dhabi Bank as joint lead managers.
Green bonds are a growing category of fixed-income securities and green sukuk could widen the appeal of Islamic bonds beyond traditional markets in Asia and the Middle East to include ethical investors in Western countries.
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