Emaar Properties (Emaar) announced it has signed the final terms related to the issuance of USD500mn in sukuk, following meetings Emaar held with fixed income investors in Singapore, Hong Kong, and London on 6 September. The 10-year sukuk, part of Emaar’s USD2bn bond issuance programme, will have an annual return of 3.875%. Standard Chartered is coordinating the issuance, while Dubai Islamic Bank is acting as Sharia adviser. Other banks managing the process are Deutsche Bank, Emirates NBD Capital, First Abu Dhabi Bank, Mashreq Bank, and Sharjah Islamic Bank. 
 
Emaar: AED4.79 as of 17 Sep. 2019, Rating: Buy, TP: AED6.30/share, MCap: USD9,338mn, EMAAR UH/EMAR.DU