MAF makes green sukuk move after Saudi blowout

Middle East Fotolia 230x150
By Ross Lancaster
23 Oct 2019

Majid Al Futtaim, the Middle Eastern shopping mall developer, came to market on Wednesday for a Reg S long 10 year sukuk, one day after Saudia Arabia won a $13bn order book for its own deal in the format.

Global coordinators BNP Paribas, Citi and HSBC gave initial price thoughts of 250bp over mid-swaps for the green sukuk deal.

On Tuesday, the Kingdom of Saudi Arabia clinched a new issue premium that one of its leads put at minus 4bp and a banker away ...

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