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Februaryweek1 2
Februaryweek1 2
Februaryweek1 2
Dubai’s DAMAC said it has seen “robust demand” for its new bond
offering, a $200 million senior unsecured sukuk.
The 2.25-year senior issuance has been successfully priced by Dubai’s
biggest lender, Emirates NBD, according to a statement on Tuesday.
Proceeds of the new sukuk, the third private placement arranged for
DAMAC Real Estate Development Limited, will go towards the
repayment of the developer’s existing debt.
“I am happy to see this placement has seen great interest from regional
and international investors. The sukuk proceeds primarily will be used for
repayment of existing debt in addition to supporting future growth of our
company,” said Hussain Sajwani, Founder and Chairman of DAMAC.
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