September 3, 2019 / 5:31 AM / 5 months ago

Emaar Properties hires banks for 10-year dollar sukuk deal

DUBAI, Sept 3 (Reuters) - Dubai’s Emaar Properties has hired banks to arrange investor meetings ahead of the issuance of 10-year dollar sukuk, or Islamic bonds, a document issued by one of the banks showed on Tuesday.

Emaar, 29.2% owned by the Investment Corporation of Dubai, will meet investors in Asia and London starting on Sept 6.

Standard Chartered was hired to coordinate the deal. Other banks leading the transaction are Dubai Islamic Bank, Deutsche Bank, Emirates NBD Capital, First Abu Dhabi Bank, Mashreq Bank and Sharjah Islamic Bank, the document showed. (Reporting by Davide Barbuscia; editing by Christian Schmollinger)

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