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DUBAI: Dubai-based actual property developer DAMAC on Tuesday offered a three-year $400 million Islamic bond, or sukuk, lower than initially anticipated, with a yield of seven.75 p.c, a financial institution doc confirmed, in response to Reuters.
The problem adopted a collection of investor calls and conferences that kicked off final week for a benchmark-sized sale, understood to be not less than $500 million.
The corporate, rated BB- by S&P, priced tighter than steerage of round 7.875 p.c launched earlier as order books hit over $1.15 billion, a doc from a mandated financial institution confirmed.
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