A banking document revealed that "Damac Properties, a UAE company, intends to issue standard-sized Islamic bonds (sukuk) of at least $500 million for a three-year term today, Tuesday, following a series of meetings with investors." It was indicated that the company requested an initial profit rate of around 8.125%. Emirati banks, including Abu Dhabi Commercial Bank, Dubai Islamic Bank, and Mashreq, are participating in the book-running process.
Damac Properties of the UAE Issues Three-Year Sukuk
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