Strong credit story drives low new issue premium for MAF
UAE-based shopping mall developer Majid Al Futtaim added to this week’s phenomenal flow of CEEMEA primary deals on Wednesday with a $500m conventional seven year bond, which was priced with only a light pick-up to its $400m 2017 sukuk note. Barclays, JP Morgan, National Bank of Abu Dhabi, Standard Chartered Bank and UBS arranged the note.
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