trending Market Intelligence /marketintelligence/en/news-insights/trending/v58T6541EO3tjwMxvlbv0Q2 content esgSubNav
In This List

Emirates REIT sets price range for over US$500M sukuk issuance

Blog

Using ESG Analysis to Support a Sustainable Future

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Q&A: Streamlining Analytics for TCFD Reporting

Blog

Evergrande and the wider impact: a sentiment analytics based perspective


Emirates REIT sets price range for over US$500M sukuk issuance

Emirates REIT (CEIC) Ltd. set the initial price guidance for its planned issuance of U.S. dollar-denominated sukuk trust certificates in the low-to-mid 5%, Reuters reported, citing a document issued by one of the banks leading the issuance.

The issuance is expected to be worth more than $500 million.

The Islamic bond, which will be the trust's first U.S. dollar-denominated sukuk, will be priced Dec. 5 and issued before the end of the first quarter of 2018.

According to the Dec. 5 report, the document notes the senior unsecured deal, initially intended to be worth over $300 million, to be of benchmark size. The five-year certificates will be listed on the Irish Stock Exchange.

Standard Chartered is the global coordinator of the issuance, while Dubai Islamic Bank, Emirates NBD Capital, Standard Chartered Bank and Warba Bank are joint lead managers.