Price is right for Emirates Reit sukuk with order book over $975m

Dubai_230
By Virginia Furness
06 Dec 2017

Debut sukuk issuer Emirates Reit on Wednesday priced a larger than expected deal of $400m after books reached nearly $1bn.

"There has been limited issuance from Dubai, and we've not really seen a Reit issue from the GCC before," said Hussain Zaidi, EMEA syndicate at Standard Chartered, which was global co-ordinator on the trade. "Also, from an LTV perspective this looked pretty attractive, with very high quality assets. ...

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