Thursday 25, October 2018 by Kudakwashe

Tabreed finalises terms of $500 million Sukuk

 

The deal will formally close next week.

Dubai’s National Central Cooling Company (Tabreed) has agreed with investors the terms of a $500 million Sukuk issue.

Tabreed will offer a 5.5 per cent coupon to the buyers of the Islamic bonds.

The company hired Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank as well as JPMorgan and Mashreq Bank as joint lead managers for the debt sale.

Tabreed completed an extensive roadshow covering Asia, the Middle East and Europe, where investors expressed a strong interest in the company, reported Reuters.

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