Dubai’s Nakheel issued an Islamic bond worth 121 million dirhams ($32.94 million) on Monday, the third tranche of a sukuk that forms part of the developer’s billion-dollar restructuring plan.
The bond will go towards part settlement of trade creditor claims against the company worth around 5.3 billion dirhams. This tranche takes the total amount of sukuk issued to 4.15 billion dirhams, Nakheel said in an emailed statement………………………………………..Full Article: Source