The Power is Now

Abu Dhabi royals-owned real estate firm begins dollar sukuk sale – Reuters

DUBAI, July 7 (Reuters) – The Private Department of Sheikh Mohamed Bin Khalid Al Nahyan LLC (PD), a relatively small real estate player in Abu Dhabi owned by members of its ruling family, has given initial price guidance of around 5.75% for five-year U.S. dollar-denominated Islamic bonds, a document showed on Wednesday.

Emirates NBD Capital (ENBD.DU) and First Abu Dhabi Bank (FAB.AD) acted as global coordinators, while Abu Dhabi Commercial Bank (ADCB.AD), Dubai Islamic Bank (DISB.DU) and Mashreq (MASB.DU) ware also involved in the deal, which is expected to launch later on Wednesday, the document from one of the banks showed. read more

Reporting by Yousef Saba; Editing by Christopher Cushing

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