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
, First Gulf Bank , National Bank of Abu Dhabi
, Noor Bank and Standard Chartered .
(Reporting by David French; Editing by Andrew Torchia)
Keywords: EMAAR PROPERTIES SUKUK
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