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Emaar signs final terms for $500m trust certificates


Leading Dubai developer Emaar Properties said it has signed final terms related to the issuance of  Dh1.84 billion ($500 million) trust certificates.

This issuance is part of its $2-billion Trust Certificate Issuance Programme, stated Emaar in its filing to the Dubai Financial Market website.

The announcement of the 10-year sukuk carry an annual return of 3.875 per cent due in 2029 and follows meetings with investors in Singapore, Hong Kong and London regarding the possible offering of a US dollar Regulation S Senior Unsecured Sukuk.

'The final terms were delivered to Dubai Financial Services Authority (DFSA) and Nasdaq Dubai for the admission to the official list of DFSA and to trading on Nasdaq Dubai of the certificates,'' it added.-TradeArabia News Service

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