Tue, Sep 16, 2014
A A A
Welcome bhaimia
RSS

Islamic Finance Briefing - Categorized | Bonds (Sukuk) more

Investor appetite for Dubai credits compresses yields for MAF sukuk

Posted on 07 August 2012

The Islamic bonds of Majid Al Futtaim (MAF) Holding LLC, a Dubai-based family-run operator of malls and hotels, rose to the highest since their debut, buoyed by a rebound in Dubai’s tourism and real estate markets.
The yield on the 5.85 per cent sukuk due February 2017 fell 174 basis points since they were sold on January 31 to 4.1 per cent today. Average yields on sukuk from the six-nation Gulf Cooperation Council (GCC) dropped 106 basis points in the period to 3.23 per cent on Friday, the HSBC/Nasdaq Dubai GCC US Dollar Sukuk Index shows. MAF is rated the second-lowest investment grade at Standard & Poor’s, while Dubai’s debt isn’t ranked………………………………………..Full Article: Source

 
Article link

This post was written by:

Laxman - who has written 19163 posts on Opalesque Islamic Finance Briefing.


Contact the author

Comments are closed.

banner
September 2014
M T W T F S S
« May    
1234567
891011121314
15161718192021
22232425262728
2930