| Kippreport.com

Dubai’s Jafza to issue $650 million 7-year sukuk this week

June 12, 2012 11:07 by Reuters

Dubai government-owned Jebel Ali Free Zone plans to launch and issue a $650 million seven-year Islamic bond or sukuk this week, and books are now open, arranging banks said on Tuesday.

Profit rate guidance for the sukuk is indicated at between 7 and 7.25 percent.

Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank , National Bank of Abu Dhabi, Citi, Dubai Islamic Bank, Emirates NBD, Samba Financial Group and Standard Chartered are bookrunners on the deal.

(Reporting by Rachna Uppal; Editing by David French)

Tags: Dubai, government, JAFZA, sukuk