Jun 26 2012
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UAE mall developer MAF eyes $350-500 mln from bond sale - exec
DUBAI, June 26 (Reuters) - UAE mall developer Majid Al Futtaim Holding ( MAF ) expects to raise between $350 million and $500 million from a potential second bond issue this year, a senior company executive said on Tuesday.
MAF , the sole franchisee of French hypermarket chain Carrefour , launched meetings with investors in Singapore and London on Wednesday and is expected to issue a dollar-denominated bond, subject to market conditions.
"We think markets are conducive and we want to refresh our story out there," Daniele Vecchi, senior vice president for treasury at MAF said, adding the developer is looking to raise between $350 million and $500 million.
, Barclays Plc , Standard Chartered Plc
Any eventual bond will be under MAF's $2 billion medium term notes programme, which was set up last year.
Due to market volatility MAF held off on a debut conventional offering under the programme in 2011 and instead opted for an Islamic bond in January this year.
It raised $400 million from a 5-year bond in January which priced at 5.85 percent.
(Reporting by Praveen Menon; Editing by Dinesh Nair)
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Keywords: EMIRATES MAF/BOND
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