News Column

Emaar Malls to issue inaugural $750m sukuk

June 12, 2014

Staff Report



Dubai: Emaar Malls Group successfully priced a $750 million (Dh2.75 billion) 10-year RegS debut sukuk with a profit rate of 4.564 per cent, representing 182.5 bps over the dollar 10-year mid-swaps on Wednesday.

The transaction came on the back of an expedited, yet comprehensive, global roadshow covering the key financial centres: London, Singapore, Hong Kong and the UAE. The proposed issuance was very well received by the market, with the order book closing at approximately $5.4 billion, representing 7.2 times oversubscription.

The pricing of the transaction achieved a balanced distribution, with Middle East accounts allocated 33 per cent, European investors representing 38 per cent of the allocations, and Asian investors picking up the 29 per cent balance.


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Gulf News (United Arab Emirates)


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters