From Reuters: Dubai developer Emaar Properties said on Wednesday it would issue $450 million in convertible bonds, and that it may have to write off loans related to troubled Islamic mortgage provider Amlak.
Emaar said in a statement the five-year note, which would carry a coupon of 7.5 percent, was increased from an initial $375 million on strong demand, and could be further raised up to $500 million……………………………………….Full Article: Source