United Arab Emirates
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Majid Al Futtaim (MAF), a shopping mall developer based in the Middle East, sold a 10 year green sukuk on Tuesday flat to its outstanding curve. -
Majid Al Futtaim, a shopping mall developer based in the Middle East, has set the spread for its green sukuk, with the deal attracting about $3bn of orders for $600m of paper.
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Abu Dhabi’s sovereign wealth fund, Mubadala, has refinanced a $1.75bn loan, increasing it to $2bn after receiving heavy oversubscription.
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Finablr has set a range on its London IPO, valuing the business at a more conservative multiple than many had expected when the roadshow began. That will please prospective buyers, some of whom were also impressed with an appearance from the company’s billionaire owner, BR Shetty.
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Abu Dhabi Commercial Bank (ADCB) and Union National Bank (UNB) have officially merged, and acquired Al Hilal Bank. The merger creates the third largest lender in the United Arab Emirates, and comes amid a boom in banking M&A across the Gulf.
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Majid Al Futtaim has picked banks for its first ever green bond, going on the road to promote its new green finance framework to investors.
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The US real estate investment trust Reality Income is planning a £300m bond sale to part finance its acquisition of 12 properties in the UK linked to grocer J Sainsbury’s.
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UAE alternative investment and asset management firm, Gulf Capital, has closed a $136.12m-equivalent revolving credit facility.
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Dubai-based property firm Damac has raised £175m to finance the development of its first luxury real estate project in London, Damac Tower. The deal comes amid prolonged Brexit uncertainty and a slump in the UAE’s real estate market.
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Mubadala, Abu Dhabi's sovereign wealth fund, is due to close a $2bn loan refinancing in coming weeks, according to bankers familiar with the deal.
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Standard Chartered is paying $1.1bn in penalties to US and UK authorities in relation to breaching rules relating to sanctions and financial crime. This exceeds the $900m provision the bank announced in February for sanctions fines.
