DAMAC Properties plans bond issuance by end of 1H17
DAMAC Properties (DAMAC) has reportedly set a roadshow from 4 April, in-preparation for a five year, fixed rate, senior unsecured benchmark sukuk offering, which is targeted to be completed before the end of 1H17. The offering is being arranged by a number of international banks, while the proceeds will be used to repay existing debt.
DAMAC Properties (DU): AED2.82 as of 30 Mar. 2017, Rating: Neutral, TP: AED2.63/share, MCap: USD4,649mn, DAMAC UH/DAMAC.DU
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