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

Nakheel benefits from Dubai property rebound

Posted on 20 August 2012

The yield on Nakheel’s Islamic bonds declined the most among bonds in the Arabian Gulf as the state-controlled developer that restructured $16bn of debt benefits from a rebound in Dubai’s property market.
The yield on the 10% sukuk due August 2016 has tumbled 820 basis points, or 8.2 percentage points, this year to 10.1% on Wednesday. The yield fell to 9.5% on August 2, the lowest since the notes began trading in September. That is more than seven times the 105 basis-point drop in the average yield on Gulf Islamic bonds, according to the HSBC/Nasdaq Dubai GCC US Dollar Sukuk Index………………………………………..Full Article: Source

 
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