Dubai mall developer plans $500m 7-year bond
Dubai, June 28, 2012
Dubai-based mall developer Majid Al Futtaim (MAF) Holding plans to price a $500 million seven-year bond, according to the arranging banks.
The bond will price at 5.25, at the tighter end of the range indicated earlier on Wednesday, signalling strong demand for the paper.
Orderbooks, which closed at 1030 GMT, were believed to be about $2 billion, lead arrangers said in a separate update.
JP Morgan, National Bank of Abu Dhabi, Standard Chartered, UBS and Barclays are bookrunners on the deal.
A year after it called off its maiden conventional bond issue in the international market, MAF is counting on stronger global demand for Gulf debt, and better investor sentiment towards Dubai in particular, to get a successful deal away.-Reuters
More Finance & Capital Market Stories
- ETF global assets hit record $2.44 trillion
- Bahrain firms plan IPOs
- Serbia wins $1bn Abu Dhabi loan
- Key equity banker resigns from Saudi Fransi
- DMCC to boost Islamic commodity trade with tie-ups
- IDB, KIA units to invest in Morocco
- First Gulf to set up $1bn sukuk in Malaysia
- Singapore’s UOB Bullion and Futures joins DGCX
- Infrastructure investment ‘key to growth’
- BKIC declares 30pc dividend
- StanChart profit falls 16pc in 2013
- Veteran Saudi banker to head AMF
- Dubai World prepays $284m to creditors
- EFG-Hermes sells Damas stake to Mannai
- Ultra rich number to grow 35pc in Mideast
- Saudi IPO market 'set for big year'
- RAK 'exploring' ceramics unit stake sale
- Bahrain Bourse wins key UK award
- Alba backs Euromoney forum
- URC bond rating upgraded to stable outlook
- GCC urged to set up onshore financial centres
- Consolidation push paying off for Bahrain banks
- Mubadala to focus more on US, Europe
- Six banks join plan for shared customer data register
- UAE economy grows 4pc in 2013
- Egypt foreign reserves up to $17.3bn
- StanChart opens second branch in Iraq
- Oil below $90 to hit GCC economies
- Payfort offers zero deposit scheme to SMEs
- In a first, NCB Capital names female CEO