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Emaar prices $500mln sukuk after it wins $1.7bln in subscriptions

Posted on 28 January 2011

From Gulfnews.com: Emaar Properties, rated B1/BB, has priced its first international fixed-income offering, raising $500 million via trust certificates with a maturity of five and a half years at a yield of 8.5 per cent. The first public offering from the region this year was structured as a Sukuk Al Ijarah and issued by a Special Purpose Vehicle, Emaar Sukuk.
It received subscriptions totalling $1.7 billion, the company said, and constitutes the first drawdown under its $2 billion programme……………………………………….Full Article: Source

 
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