Dubai

Sukuk has not been given enough value since the beginning of about 4.25%, a letter from one of the banks announced in a statement.

DUBAI: Emaar Houses, the largest building listed in Dubai, sold $ 500 million in 10 -year -old Sukuk, or Islam, binding 3.7% on Tuesday after receiving more than $ 3.3 billion, the paper said.

Initially, the Sukuk was not valued for 4.25%, a letter from one of the banks in the interview announced.

The arrangements were made by the Islamic Bank of, Emirates NBD Capital, Abu Dhabi First Bank, Mashreqbank, and Standard Chartered.

Reuters reported earlier this month that Emaar had taken banks to deposit Sukuk one dollar to sell.

The construction of the world’s tallest building, the Burj Khalifa, saw global promise in 2019, raising $ 500 million in Sukuk.

S&P Global Ratings described Emaar as BB +’s “garbage” in July, as stores and shops were contaminated with COVID-19 and other complications.

Emaar, a company with 29.22%, Dubai Investment Corporation last month showed an 8% increase in revenue in the first quarter of sixty -six million dollars ($ 178.88 million), founder Mohamed said Alabbar, “same” as first death in 2019 alone.

The company and its partners are heavily indebted to $ 186,000, according to Refinitiv.

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