Reuters reported that UAE-based property developer DAMAC had asked banks to arrange investor meetings ahead of the three-year U.S. dollar-denominated Islamic bond.
Reuters expects the Islamic bond to be at least $500M in size.
According to a document seen by Reuters, Deutsch Bank, Emirates NBD Capital, and J.P. Morgan are joint global coordinators.
- Lenders from the UAE — Abu Dhabi Commercial Bank, Dubai Islamic Bank, and Mashreq will be the deal's joint book-runners.
- The investor calls, and meetings were scheduled between Apr. 13 and 17.
- In March last year, DAMAC was delisted from the Dubai Stock Exchange to a private firm as it struggled to remain profitable.
