Tamweel buoyant as sukuk lined up

02 Dec 2011

Gulf investors reacted positively to news this week that Dubai-based mortgage company Tamweel could soon be in the market with its first new issue since 2008.

The deal will be guaranteed by its higher rated majority owner, Dubai Islamic Bank and allow Tamweel to pay down looming maturities as well as fund new mortgage lending business.

Tamweel is rated Baa3 by Moody’s and BBB- by Fitch, while DIB is rated Baa1/A, all with a stable ...

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