New Issue: Dubai Investments Park sells $300 million 4.291% sukuk due 2019 at par

By Christine Van Dusen

Atlanta, Feb. 13 - Dubai Investments Park Development Co. - a subsidiary of Dubai Investments PJSC - sold $300 million five-year Islamic bonds (/BB/) at par to yield 4.291%, or mid-swaps plus 265 basis points, a market source said.

The notes were talked at a spread in the 300 bps area.

Al Hilal Bank, Citigroup, Dubai Islamic Bank and Emirates NBD were the bookrunners for the Regulation S sukuk.

The issuer is a mixed-use development in Dubai.

Issuer:	Dubai Investments Park Development Co.
Amount:	$300 million
Maturity:	Feb. 20, 2019
Description:	Islamic bonds
Bookrunners:	Al Hilal Bank, Citigroup, Dubai Islamic Bank, Emirates NBD
Coupon:	4.291%
Price:	Par
Yield:	4.291%
Spread:	Mid-swaps plus 265 bps
Trade date:	Feb. 13
Settlement date:	Feb. 20
Rating:	Standard & Poor's: BB
Distribution:	Regulation S
Price talk:	Mid-swaps plus 300 bps area

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