Jun 18 2012
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Dubai's Tamweel Plans US Dollar Sukuk Issue - Source
Monday, Jun 18, 2012
DUBAI (Zawya Dow Jones)--Dubai-based Tamweel (TAMWEEL.DFM), an Islamic mortgage provider, has mandated banks to arrange a series of investor meetings starting this week and may issue an asset-backed, U.S. dollar Islamic bond, or sukuk, depending on market conditions, a banker aware of the deal said Monday.
Abu Dhabi Commercial Bank, Emirates NBD and UBS Investment Bank will arrange the investor meetings in the Middle East, Asia and Europe from June 19, the banker, who declined to be identified, told Zawya Dow Jones.
A regulation S sukuk transaction, backed by properties and receivables located in Dubai, may follow, the banker added. The planned sukuk will be listed on the Irish Stock Exchange.
-By Nikhil Lohade, Dow Jones Newswires; +9714 446-1694; firstname.lastname@example.org; Twitter: @ZDJnews
(END) Dow Jones Newswires
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