Emaar Properties said on Tuesday it has hired banks to arrange the potential issuance of dollar Islamic bonds.
Emaar said in a statement on Dubai Financial Market that the planned issuance is part of Emaar’s $2 billion debt raising programme.
It was also reported that Emaar is looking to issue 10-year sukuk after meeting investors in Asia and London from September 6.
Standard Chartered has been hired as sole global coordinator for the new sukuk deal. Other banks leading the transaction are Dubai Islamic Bank, Deutsche Bank, Emirates NBD Capital, First Abu Dhabi Bank, Mashreq and Sharjah Islamic Bank.
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