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