DUBAI, April 11 DAMAC Properties,
Dubai's second-largest listed developer, has tightened price
guidance on its planned benchmark dollar sukuk to 6.375 percent
from an initial mid-6 percent area, according to a document
issued on Tuesday from one of the banks leading the deal seen by
Benchmark bonds are usually meant to be upwards of $500
million. Order books, including joint lead managers' interests,
amounted to about $850 million, according to the document.
The property developer, a business partner of U.S. President
Donald Trump, plans to price and launch the Regulation S, senior
unsecured Islamic bond later on Tuesday.
(Reporting by Davide Barbuscia, editing by Louise Heavens)