Published on 1/27/2011 in the Prospect News Emerging Markets Daily.
New Issue: UAE's Emaar Properties prices $500 million 8½% notes due 2016 at par
By Christine Van Dusen
Atlanta, Jan. 27 - Dubai's Emaar Properties priced $500 million sukuk notes due Aug. 3, 2016 (B1/BB/) at par to yield 8½%, a market source said Thursday.
HSBC, RBS and Standard Chartered were the bookrunners for the Regulation S-only deal.
Emaar Properties is a developer.
| Issuer: | Emaar Properties
|
| Amount: | $500 million
|
| Maturity: | Aug. 3, 2016
|
| Description: | Sukuk notes
|
| Bookrunners: | HSBC, RBS, Standard Chartered
|
| Coupon: | 8½%
|
| Price: | Par
|
| Yield: | 8½%
|
| Trade date: | Jan. 26
|
| Settlement date: | Feb. 3
|
| Ratings: | Moody's: B1
|
| Standard & Poor's: BB
|
| Distribution: | Regulation S only
|
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