Tamweel completes strong week for sukuks with $300m deal

13 Jan 2012

Tamweel, the Dubai-based mortgage company, was given a warm welcome in the Islamic finance market on Thursday when it sold a $300m tranche of a $1bn sukuk programme.

The five year deal had a profit rate of 5.154%. It was priced in line with earlier indications at around 400bp over mid-swaps. This was some 50bp outside where fellow Dubai issuer, Emirates Islamic Bank, priced its $500m sukuk earlier this week (see separate story), but inside Dubai ...

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