20.08.2012 - Nakheel benefits from Dubai property rebound
The yield on Nakheel’s Islamic bonds declined the most among bonds in the Arabian Gulf as the state-controlled developer that restructured $16bn of debt benefits from a rebound in Dubai’s property market. The yield on the 10% sukuk due August 2016 has tumbled 820 basis points, or 8.2 percentage points, this year to 10.1% on Wednesday. The yield fell to 9.5% on August 2, the lowest since the notes began trading in September. That is more than seven times the 105 basis-point drop in the average yield on Gulf Islamic bonds, according to the HSBC/Nasdaq Dubai GCC US Dollar Sukuk Index...............................................Full Article: Source
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