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Emaar Properties expected to raise $500m through Sukuk issuance

Emaar Properties expected to raise $500m through Sukuk issuance
Emaar has set initial price guidance of around 4.25% for the Sukuk
Emaar
EMAAR
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Dubai – Mubasher: Emaar Properties is expected to secure up to $500 million through 10-year US dollar-denominated Sukuk, Reuters reported.

Emaar has set initial price guidance of around 4.25% for the Sukuk, as shown by a cited document from one of the banks arranging the deal.

The company has mandated Dubai Islamic Bank (DIB), Emirates NBD Capital, First Abu Dhabi Bank (FAB), Mashreq Bank, and Standard Chartered Bank as joint lead managers and bookrunners.

On Monday, 28 June 2021, the company announced that it has hired banks to arrange for the issuance of the US dollar-denominated senior unsecured Sukuk of a 10-year tenor, under its $2 billion trust certificate issuance programme.