MAF launches sukuk, a bit smaller but inside price talk
Majid Al Futtaim, the United Arab Emirates-based shopping centre developer, launched and priced a $400m sukuk on Tuesday at 5.85% – inside its earlier 5.9%-5.95% guidance but below the maximum $500m benchmark size deal the firm had aimed for.
MAF established a $1bn sukuk trust certificate programme last week.
The deal is the first sukuk from a Dubai-based company to hit the international market for almost a year. MAF is also one of a rare breed of rated Dubai issuers.
MAF is seeking funding for various projects, such as
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