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FINANCIAL NEWS
Dubai-Meraas Holding issues USD400mn sukuk
02 Jun 2017
(MENAFN) Dubai-Meraas Holding, a real estate developer issued an USD400mn sukuk, selling it to a select group of investors.
Moreover, the Islamic bond, with a five-year maturity, was priced at par with a 5.112 percent yield on May 26, while it was trading at one to 1.5 points.
Additionally, Emirates NBD, Noor Bank and Standard Chartered coordinated the transaction and served as book runners along with Dubai Islamic Bank, Sharjah Islamic Bank and Warba Bank.
Meanwhile, a new entity has been launched which will manage billions of dollars of development projects for the firm and Dubai Holding.
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