MAF makes nice with rare Gulf hybrid
Dubai-based property developer Majid Al Futtaim (MAF) received a warm welcome from international investors on its return to the hybrid dollar market on Tuesday.
The BBB/BBB rated borrower attracted more than $1.8bn of orders for its reset perpetual non-call 5.5 issue despite tightening pricing significantly from initial thoughts of high 5% area.Leads were able to set guidance at 5.625% plus or minus 12.5bp after books built rapidly to ...
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