Published: April 30, 2014
Dubai holding company in 10-year bond issuance.
Majid Al Futtaim, the Dubai-based real estate holding company, has raised US$500mn in 10-year bonds. The paper came with a coupon of 4.75%. Joint managers and bookrunners of the deal were Barclays Capital, Citi, Credit Agricole CIB, Emirates NBD, HSBC and Standard Chartered.
Majid Al Futtaim is one of the region’s largest developers of commercial properties, with a presence in 12 countries across the Middle East and Africa. Its assets include 16 shopping malls, 53 supermarkets, nine cinema complexes and 11 hotels.