Jafza and Poland keep EM turning
After pulling in some $1.5bn of demand, most of which was said to be local, Dubai’s Jebel Ali Free Zone (Jafza) priced a $650m seven-year benchmark Reg-S sukuk late on Tuesday at 7%. In doing so, the issuer hit the tight end of its 7%-7.25% guidance target, underlining the opportunities available in the Islamic market. But the conventional primary bond market remains quiet.
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