Dubai's Emaar Properties mandates banks for possible USD sukuk

 31 Aug 2016 - 14:46

Dubai's Emaar Properties mandates banks for possible USD sukuk
 

DUBAI: Dubai's Emaar Properties has mandated banks for a possible U.S. dollar-denominated Regulation S senior sukuk, it said on Wednesday. 

It had selected Standard Chartered as sole global coordinator and Bank ABC, Dubai Islamic Bank, Emirates NBD Capital, First Gulf Bank, Mashreq, National Bank of Abu Dhabi, Noor Bank, Standard Chartered and Union National Bank as joint lead managers and bookrunners, it said in a statement.

The banks will arrange fixed-income investor meetings in Asia, the Middle East and Europe starting on September 4. 

A sukuk issue may follow under Emaar's $2 billion Trust Certificate Issuance Programme, subject to market conditions, it added.

Reuters