Dubai Developer Damac sells $750 million in 3-1/2-year sukuk
ReutersFeb 19, 2025 2:06 PM
Feb 19 (Reuters) - Dubai developer Damac DAMAC Real Estate Development has sold $750 million in 3-1/2-year Islamic bond 'sukuk', according to a document seen by Reuters on Wednesday.
The yield was set at 7%, narrower than the 7.5% initial price guidance released earlier in the day after the orders surpassed $2.3 billion, the lead bank document showed.
Emirates NBD Capital, HSBC and JP Morgan are joint global coordinators for the debt issuance deal, while Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Dubai Islamic Bank, Goldman Sachs International, Mashreq and Warba Bank are acting as joint bookrunners, the document said.
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