Emaar Properties eyes 7-year benchmark sukuk
Source: BI-ME with Reuters , Author: Posted by BI-ME staff
Posted: Wed July 11, 2012 10:08 am
china wholesale market

UAE. Emaar Properties, builder of the world's tallest tower, plans to issue a seven-year benchmark-sized Islamic bond, or sukuk, this week, two market sources said on Wednesday.

Initial profit talk for the sukuk is indicated to be at 6.75%. The company is due to meet investors in London on Wednesday, with pricing due early on Thursday, the sources said.

Benchmark-sized is normally understood to mean at least US$500 million.

Standard Chartered Plc, HSBC Holdings, Abu Dhabi's Al Hilal Bank, Qatar's Barwa Bank, Emirates NBD , Dubai Islamic Bank and Noor Islamic Bank are mandated on the deal

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

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UAE. Report, conducted by Deloitte and MIT Sloan Management Review, reveals that the ability to digitally transform and reimagine a business is determined in large part by a clear digital strategy supported by leaders who foster a culture able to change and reinvent their organizations.
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SAUDI ARABIA. Were Saudi defence spending to be financed entirely from net oil export revenues in 2015, the spending would consume ~73.4 percent of these revenues.
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INTERNATIONAL. The key assumption is that global markets recover from recent turbulence, China doesn't move aggressively on devaluing its currency, and the Fed raises rates.
UAE. Report, conducted by Deloitte and MIT Sloan Management Review, reveals that the ability to digitally transform and reimagine a business is determined in large part by a clear digital strategy supported by leaders who foster a culture able to change and reinvent their organizations.
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