Dubais Majid Al Futtaim Hires Banks For Perpetual Dollar Bond
{{#if alert}}
{{msg}}
{{/if}} {{#if confirm}}
{{msg}}
{{/if}} {{#if email}}
Please enter a valid destination email id
{{/if}}
The potential subordinated perpetual bond will be non-callable for eight years and will be of benchmark size
DUBAI: Dubai’s Majid Al Futtaim , a holding company that owns and operates shopping centres in the Middle East and North Africa, has mandated banks to arrange a potential hybrid US dollar-denominated bond, a document from one of the banks showed on Monday.
BNP Paribas, Citi, JPMorgan and Standard Chartered are the joint global coordinators and joint lead managers together with Emirates NBD Capital and First Abu Dhabi Bank.
The potential subordinated perpetual bond will be non-callable for eight years and will be of benchmark size, which normally means upwards of $500 million (Dh1,84 billion).
A call with fixed income investors will take place on March 12 ahead of the potential issue.
Separately, Majid Al Futtaim on Monday sent an invitation to eligible holders of its $500 million subordinated perpetual notes issued in 2013 to tender the notes for purchase by the issuer.
— Reuters
BNY Mellon Lands A Big Ally For Expansion In Saudi Arabia
NCB Capital is the kingdom's biggest asset manager and investment bank Read more
Coronavirus, Low Oil Prices Set To Speed Up Gulf Bank Mergers
Moody's Investors Service says financial concerns in the region will play a larger role in encouraging deals Read more
Abu Dhabi Fund Buys $750m Stake In Retail Arm Of Indian Giant Reliance
Subsidiary of the Abu Dhabi Investment Authority will buy a 1.2% stake in Reliance Retail Ventures Read more
How The Lebanese Private Sector Is Coping In The Eye Of A Storm
Businesses extremely pessimistic about future as layoffs continue and wages plummet Read more
Lebanese Pound: The Most Undervalued Currency In The World
As political and economy chaos ensues, leading analyst says exchange rate needs sorting 'as soon as possible' Read more
How Coronavirus Is Changing Banking For The Better
Redefining finance for good: Virtual CXO Forum to take place on October 7 Read more