October 23, 2019 / 5:31 AM / 2 months ago

UAE's Majid Al Futtaim starts marketing green dollar sukuk

DUBAI, Oct 23 (Reuters) - Majid Al Futtaim, a UAE-based developer and shopping mall operator, started marketing U.S. dollar-denominated “green” sukuk, or Islamic bonds, a document issued by one of the banks leading the deal showed on Wednesday.

The bonds, due in February 2030, offer an initial price guidance of around 250 basis points over mid-swaps and are of benchmark size, which generally means upwards of $500 million.

Green bonds are a growing category of fixed-income securities and green sukuk could widen the appeal of Islamic bonds beyond traditional markets in Asia and the Middle East to include ethical investors in Western countries. (Reporting by Davide Barbuscia; Editing by Himani Sarkar)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below