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UAE mall group MAF launches $400M sukuk

UAE mall group MAF launches $400M sukuk

Dubai mall developer Majid Al Futtaim (MAF) Holding launched a $400 million five-year Islamic bond, or sukuk, at a profit rate of 5.85 percent, tighter than guidance.

January 31, 2012 3:02 by

Final pricing is due later on Tuesday. Abu Dhabi Islamic Bank, Dubai Islamic Bank, HSBC and Standard Chartered are bookrunners on the deal.

On Monday, arranging banks released pricing guidance in the range of 5.9 to 5.95 percent profit rate. (Reporting by Rachna Uppal)

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