The proceeds of the sukuk will back environmentally-friendly projects in areas such as renewable energy and sustainable water management
Business Blog
(Adds details)DUBAI, May 7 (Reuters) - Majid Al Futtaim, a UAE-based developer and shopping mall operator, has started marketing 10-year U.S. dollar-denominated "green" Islamic bonds, or sukuk, at about 245 basis points over mid-swaps, a document showed on Tuesday.The proceeds of the sukuk will back environmentally-friendly projects in areas such as renewable energy and sustainable water managemen
The so-called "green" sukuk - whose proceeds will back environment-friendly projects - will be of benchmark size, which generally means over $500mln and are expected to price later on Tuesday
Saudi Telecom's new bonds, which will be listed on the Irish Stock Exchange, offer a 3.89 percent return
Part of strategy to finance annual budget deficit
HSBC, JPMorgan, Standard Chartered, Samba, First Abu Dhabi Bank, and KFH have been hired to arrange the deal