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Emaar Properties of Dubai targets 10 year sukuk sale
The transaction, for which order books have now opened, is currently earmarked to price in the low-to-mid 200 basis point range over equivalent mid swaps, according to the document.
Benchmark size is traditionally understood to mean upwards of $500 million.
The developer's issuance of Islamic bonds is being managed by Standard Chartered, Bank ABC, Dubai Islamic Bank, Emirates NBD, First Gulf Bank, Mashreq, National Bank of Abu Dhabi, Noor Bank and Union National Bank, the document said.
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