|10 September, 2019

Emaar Properties expected to raise $500mln in 10-year sukuk

The deal, part of a $2bln debt programme, is offering investors between 250 and 255 basis points over mid-swaps

A logo of Dubai's Emaar Properties is seen on a building in Dubai, United Arab Emirates January 12, 2018. REUTERS/Ahmed Jadallah

A logo of Dubai's Emaar Properties is seen on a building in Dubai, United Arab Emirates January 12, 2018. REUTERS/Ahmed Jadallah

Ahmed Jadallah

DUBAI  - Dubai's largest listed developer Emaar Properties is expected to raise $500 million in Islamic bonds, or sukuk, a document issued by one of the banks leading the deal showed.

The deal, part of a $2 billion debt programme, is offering investors between 250 and 255 basis points over mid-swaps.

The bonds are expected to price later on Tuesday.

(Reporting by Davide Barbuscia, editing by Louise Heavens ) ((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters Messaging: davide.barbuscia.reuters.com@reuters.net))

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