UAE property developer DAMAC plans 3-year US dollar Islamic bond -document | Reuters
Property developer DAMAC Real Estate Ltd (DAMAC) has mandated banks to arrange investor meetings ahead of a potential three-year U.S. dollar-denominated Islamic bond, or sukuk, expected to be at least $500 million in size, a document showed on Thursday.
Investor calls and meetings are scheduled to begin on April 13 and will run to April 17, and a senior unsecured sukuk could follow but will be subject to market conditions, showed the document from one of the mandated banks.
Deutsche Bank, Emirates NBD Capital and J.P. Morgan are mandated joint global coordinators, and UAE lenders Abu Dhabi Commercial Bank, Dubai Islamic Bank and Mashreq are acting as joint bookrunners on the deal, the document showed.
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