Dubai – Mubasher: Drake & Scull International (DSI) said on Monday that it has mandated Emirates NBD Capital and HSBC as joint global coordinators, and Al Hilal Bank, Emirates NBD Capital, HSBC and Standard Chartered Bank as joint lead managers to arrange a series of fixed income investor meetings in the Middle East and Europe.

These meetings will begin on 4 June, it said in a filing to the Dubai Financial Market (DFM), adding that an unrated dollar-denominated regulation S senior perpetual sukuk offering may follow, depending on market conditions.

The company started 2015 with a positive momentum in the UAE and Omani markets, it said, adding that it managed to secure AED 728 million worth of new engineering and general contracting contracts year-to-date across the hospitality and commercial sectors.

DSI is “well on track in achieving its growth objectives for the year”, according to the filing. It added that its backlog stood at AED 13.8 billion as of 31 March 2015.

DSI said on Sunday that its subsidiary Drake & Scull Engineering Oman (DSE Oman) has been awarded several contracts worth a total of AED 350 million ($95.3 million).

The Dubai-listed firm reported a 39.5% fall in net profits for the fiscal year 2014 to AED 110 million ($30 million), down from AED 181.7 million ($49.5 million) a year earlier.