13.04.2012 - Buoyant sentiment drives Nakheel bond rally
A dramatic fall in yields on the bonds of state-owned property developer Nakheel underlines how investor sentiment towards Dubai is improving, even though the outlook for the company's own business remains tough. Nakheel's $1 billion (Dh3.67 billion), five-year sukuk is yielding about 14 per cent, down from levels above 21 per cent when the Islamic bond was issued to trade creditors last August as part of a restructuring of the company's $16 billion debt...............................................Full Article: Source
Print