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

Nakheel trade creditors flood market to sell Sukuk

Posted on 20 September 2011

Mark WattsNakheel’s Islamic bonds, which were issued to contractors and suppliers instead of cash as part of a $16.1bn restructuring plan, fell in their first week of trading as holders flooded the market.
The state-owned builder of man-made islands off Dubai’s coast saw the yield on its sukuk soar 108 basis points since Sept 9, or 1.08 percentage points, to 17.08 percent on Sept 16, according to prices at Standard Chartered……………………………………….Full Article: Source

 
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