DUBAI - Emirates REIT , a Dubai-based sharia-compliant real estate investment trust, has given initial price guidance in the low-to-mid 5 percent for its debut U.S. dollar-denominated sukuk, a document issued by one of the banks leading the deal showed on Tuesday.
The issuance of the Islamic bond, or sukuk, is expected to be of benchmark size, which conventionally means the higher side of $500 million, according to the document.
The senior unsecured deal, with an expected BB+ rating by Fitch, will price later in the day.
(Reporting by Davide Barbuscia; Editing by Sherry Jacob-Phillips) ((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters Messaging: davide.barbuscia.reuters.com@reuters.net))
The issuance of the Islamic bond, or sukuk, is expected to be of benchmark size, which conventionally means the higher side of $500 million, according to the document.
The senior unsecured deal, with an expected BB+ rating by Fitch, will price later in the day.
(Reporting by Davide Barbuscia; Editing by Sherry Jacob-Phillips) ((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters Messaging: davide.barbuscia.reuters.com@reuters.net))
