Published: June 6, 2012
Business park operator meets Middle Eastern, European and Asian investors.
Jebel Ali Free Zone (JAFZ), a state-owned business park operator in Dubai, is to issue a US dollar sukuk subject to market conditions.
The company has mandated seven banks to manage a series of meetings this week with investors in Asia, Europe and the Middle East.
Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank and Citi have arranged the meetings along with Dubai Islamic Bank, Emirates NBD, National Bank of Abu Dhabi and Standard Chartered.
JAFZ has US$2bn of debt maturing by the end of the year and any potential sukuk issuance could help refinance its borrowings.
If sukuk is issued it will be listed on the Irish Stock Exchange and NASDAQ Dubai.