UAE’s Emaar Malls talks 10-year sukuk at mid-swaps plus 190 bps area

By Aleesia Forni

Virginia Beach, June 10 – Dubai’s Emaar Malls Group set price talk for its 10-year dollar-denominated issue of Islamic bonds in the area of mid-swaps plus 190 basis points, an informed source said.

Talk tightened around 10 bps from earlier guidance, which was set in the mid-swaps plus 200 bps area.

Dubai Islamic Bank, Emirates NBD Capital, First Gulf Bank, Mashreq, Morgan Stanley and National Bank of Abu Dhabi are the bookrunners for the Regulation S sukuk.

Emaar Malls is a subsidiary of Dubai-based developer Emaar Properties.

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