Emaar hires banks for 10-year dollar Islamic bonds - document

Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, Mashreqbank and Standard Chartered will arrange investor calls

  
Image used for illustrative purpose.

Image used for illustrative purpose.

Getty Images

DUBAI - Emaar Properties has hired banks to arrange an issuance of U.S. dollar-denominated 10-year sukuk, or Islamic bonds, a document showed on Monday.

Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, Mashreqbank and Standard Chartered will arrange investor calls starting on Monday, the document from one of the banks showed.

A senior unsecured sukuk issuance will follow, subject to market conditions.

Reuters reported early this month that Emaar hired banks to arrange a dollar sukuk sale. 

(Reporting by Yousef Saba; Editing by Kim Coghill) ((Yousef.Saba@thomsonreuters.com; +971562166204; https://twitter.com/YousefSaba))


More From Islamic Finance