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DAMAC Real Estate issues US$125M certificates

DAMAC Real Estate Development Ltd. issued US$125 million worth of senior unsecured 18-month certificates through a private placement.

Adil Taqi, CFO of DAMAC Properties Dubai PJSC, which owns DAMAC Real Estate, said the proceeds from the issuance will be used for general corporate purposes and for land acquisitions.

Emirates NBD Capital Ltd. is the sole book runner and lead manager for the issuance.