UAE property developer DAMAC to sell 3-yr Islamic bond Tuesday

Middle East
18-04-2023 | 03:00
High views
Share
LBCI
Share
LBCI
Whatsapp
facebook
Twitter
Messenger
telegram
telegram
print
UAE property developer DAMAC to sell 3-yr Islamic bond Tuesday
Whatsapp
facebook
Twitter
Messenger
telegram
telegram
print
0min
UAE property developer DAMAC to sell 3-yr Islamic bond Tuesday

Dubai-based real estate developer DAMAC plans to sell a benchmark-sized three-year Islamic bond, or sukuk, on Tuesday, a bank document showed, following a series of investor calls and meetings that kicked off last week.

Benchmark-sized is understood to mean at least $500 million.

The company, rated BB- by S&P, has given initial profit rate guidance in the range of 8.125 percent, a document from one of the mandated banks showed.
 
Deutsche Bank, Emirates NBD Capital and J.P. Morgan are mandated global coordinators and bookrunners, and UAE lenders Abu Dhabi Commercial Bank, Dubai Islamic Bank and Mashreq are also acting as joint bookrunners on the deal.

DAMAC's projects are targeted at the higher-end luxury segment of the market as the company seeks to take advantage of a property boom in Dubai amid a strong economic recovery after the COVID-19 pandemic.
 

UAE

United Arab Emirates

Property

Developer

DAMAC

Sell

Islamic

Bond

Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
LBCI
Middle East News
2025-10-24

Seven Yemeni UN workers detained in Sanaa: Houthi security source

LBCI
Lebanon News
2025-10-06

After suspension of “Rissalat Association” license, PM Salam explains government’s decision

LBCI
Variety and Tech
2025-12-11

Time magazine names 'Architects of AI' as Person of the Year

LBCI
Lebanon News
03:57

Tarek Mitri says Lebanese Army ready for next phase of weapons consolidation

Videos
d-none hideMe
LBCI
Lebanon News
2025-12-02

Pope Leo XIV urges leaders to hear their people’s cry for peace, singles out Lebanon (video)

LBCI
Lebanon News
2025-12-02

At Beirut waterfront, Pope Leo XIV rides through cheering crowds (video)

LBCI
Lebanon News
2025-12-02

At Beirut Port, Pope Leo XIV offers silent prayer for blast victims (video)

LBCI
Lebanon News
2025-12-02

Pope Leo XIV opens hospital visit with Arabic ’Sabah el-kheir’ — Video

LBCI
Lebanon News
2025-12-01

Pope Leo XIV tells Lebanese youth Lebanon’s future ‘is in your hands’; watch full speech here

LBCI
Lebanon News
2025-12-01

Pope Leo XIV moved by youth turnout in Bkerke: Video

LBCI
Middle East News
2025-11-27

Pope Leo leaves for Istanbul—Video

LBCI
Middle East News
2025-11-27

Pope Leo arrives at Turkey's Presidential Palace—Video

LBCI
Middle East News
2025-11-27

Pope Leo visits Mustafa Kemal Ataturk's mausoleum—Video

Most read
d-none hideMe
24 hours
7 days
Month
LBCI
News Bulletin Reports
13:00

Lebanon imposes stricter rules on cash transfers

LBCI
News Bulletin Reports
12:55

Israel weighs Hezbollah showdown as Netanyahu-Trump meeting nears

LBCI
Lebanon News
07:28

Beirut blast judge travels to Bulgaria to question ship owner

LBCI
Lebanon News
03:57

Tarek Mitri says Lebanese Army ready for next phase of weapons consolidation

LBCI
News Bulletin Reports
12:50

A wave in motion as 380,000 Syrian refugees return from Lebanon

LBCI
News Bulletin Reports
12:55

Crackdown on illegal crossings: Smuggling routes dry up as Lebanon and Syria boost border enforcement

LBCI
Middle East News
13:49

Israel approves natural gas deal with Egypt, Netanyahu says

LBCI
Lebanon News
03:02

Lebanon launches final phase of 2025 plan for organized return of Syrian refugees—Video

Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store
Download now the LBCI mobile app
We use
cookies
We use cookies to make
your experience on this
website better.
Accept
Learn More