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Emaar Properties, builder of the world’s tallest tower Burj Khalifa, has picked banks to arrange investor meetings in London ahead of a possible new Islamic bond, or sukuk, issue.
The company, the Gulf’s largest listed developer by market value, has mandated no fewer than seven regional and international banks for the meetings which take place on July 11, and only in London
A sukuk issue under the company’s $2bn sukuk programme may follow, subject to market conditions, arranging banks said on Tuesday.
The Islamic debt market has been resilient during the latest phase of the euro zone crisis and most regional deals so far this year have been in the form of sukuk.
Arabianbusiness
