Dubais Majid Al Futtaim Hires Banks For Perpetual Dollar Bond
{{#if alert}}
{{msg}}
{{/if}} {{#if confirm}}
{{msg}}
{{/if}} {{#if email}}
Please enter a valid destination email id
{{/if}}
The potential subordinated perpetual bond will be non-callable for eight years and will be of benchmark size
DUBAI: Dubai’s Majid Al Futtaim , a holding company that owns and operates shopping centres in the Middle East and North Africa, has mandated banks to arrange a potential hybrid US dollar-denominated bond, a document from one of the banks showed on Monday.
BNP Paribas, Citi, JPMorgan and Standard Chartered are the joint global coordinators and joint lead managers together with Emirates NBD Capital and First Abu Dhabi Bank.
The potential subordinated perpetual bond will be non-callable for eight years and will be of benchmark size, which normally means upwards of $500 million (Dh1,84 billion).
A call with fixed income investors will take place on March 12 ahead of the potential issue.
Separately, Majid Al Futtaim on Monday sent an invitation to eligible holders of its $500 million subordinated perpetual notes issued in 2013 to tender the notes for purchase by the issuer.
— Reuters
Islamic Banking Assets To Hit $7.5tn By 2028 As Global Demand Surges
Standard Chartered forecasts Islamic banking assets to soar to $7.5tn by 2028, driven by ESG investment and rising corp... Read more
MENA M&A Deals Jump 23% To $69.1bn In 2025 As UAE And Saudi Lead Record Cross-border Growth
MENA M&A deals rose 23% to $69.1bn in 2025, led by the UAE and Saudi Arabia. Cross-border transactions hit a five-y... Read more
UAEs Tabreed Settles Its $500mn Trust Certificates Due In 2025
The 7-year senior unsecured Sukuk was issued in October 2018 and listed on the London Stock Exchange with a fixed 5.5 p... Read more
GCC Insurers Set For Stable Growth, But Smaller Players Under Pressure
Moody’s Ratings says Gulf insurers will benefit from solid economic growth and stronger demand for health and life co... Read more
UAE Residents Can Now Invest In Government-backed Sukuk From Just $1,089
UAE residents and citizens can now invest digitally in Sharia-compliant Retail Sukuk from $1,089, under Ministry of Fin... Read more
Saudi Arabias ZATCA Warns Deadline Approaching For Tax Fine Exemption
Saudi Arabia’s ZATCA reminds taxpayers to benefit from its fine cancellation and penalty exemption initiative before ... Read more