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Islamic Finance Briefing - Categorized | Bonds (Sukuk), Performance more

Tabreed bonds show investors bet on support: Islamic finance

Posted on 19 January 2011

From Bloomberg: Islamic bonds of National Central Cooling Co., known as Tabreed, rose on speculation the provider of air conditioning services to the Dubai Metro may follow Aldar Properties PJSC in getting financial support from Abu Dhabi.
Tabreed’s floating-rate $200 million sukuk maturing in July rose 13 cents on the dollar in the past month to 88 cents yesterday, according to Exotix Ltd., an investment bank specializing in illiquid bonds. Shares of Tabreed, part-owned by Mubadala Development Co., fell to an eight-year low on Jan. 17 on concern government aid may dilute the stock……………………………………….Full Article: Source

 
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