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

Aldar’s Sukuk may rally on Abu Dhabi support: Islamic finance

Posted on 25 August 2010

From Bloomberg: Aldar Properties PJSC’s Islamic bonds, the worst-performing debt among Abu Dhabi-linked companies this year, are rebounding on speculation the government will support the company.

The 5.767 percent convertible Islamic notes due in November 2011 from Abu Dhabi’s biggest real-estate developer rose 1.81 cents on the dollar from a 16-month low reached on Aug. 11, cutting the yield to 9.589 percent from 11.142 percent, according to data compiled by Bloomberg. The securities probably will advance to par, according to Algebra Capital Ltd…………………………………….Full Article: Source

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