From Gulfnews.com: Emaar Properties, the UAE’s biggest listed real estate developer, said on Wednesday that the company’s board has agreed to issue convertible bonds worth $375 million (Dh1.37 billion).
In a filing to the Dubai Financial Market on Wednesday, the company said it had established a wholly owned subsidiary, Pyrus Limited, in Cayman Islands, that would issue a $375 million bond with the option to increase the size of the issue by another $125 million……………………………………….Full Article: Source