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HomeRegionDubai's Emaar Malls to issue 10-yr sukuk this week, sets initial guidance

Dubai's Emaar Malls to issue 10-yr sukuk this week, sets initial guidance

DUBAI, June 10 (Reuters) – The malls unit of Dubai’s Emaar Properties has set initial price thoughts on a debut Islamic bond issue of ten years duration, which is set to be sold this week, a document from lead managers said on Tuesday.

Pricing guidance for the benchmark-sized transaction has been given in the area of 200 basis points over midswaps, the document said. Benchmark size is traditionally understood to mean in excess of $500 million.

Two Abu Dhabi-based banks – Al Hilal Bank and Abu Dhabi Islamic Bank – have been added to the list of eight existing bookrunners for the deal, the document showed.

The other bookrunners are Dubai Islamic Bank , Emirates NBD , Mashreq , Morgan Stanley

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, First Gulf Bank , National Bank of Abu Dhabi

, Noor Bank and Standard Chartered .

(Reporting by David French; Editing by Andrew Torchia)

(([email protected])(+971 4 362 5864)(Reuters Messaging: [email protected]))

Keywords: EMAAR PROPERTIES SUKUK

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