iPhone | iPad
Android
Huawei
The KSA retail offer remains unchanged at 10% of the total offering, whilst the institutional offer will reduce from 85% to 80% of the total IPO
KT APPDOWNLOAD
MAF sells $500 million in perpetual green bonds for refinancing
The yield was tightened from initial guidance of 8.125 per cent to 8.25 per cent for the equity-like debt sale after orders topped $1 billion. — File photo
Majid Al Futtaim (MAF), which develops shopping malls across the Middle East, on Thursday sold $500 million in perpetual green hybrid bonds non-callable for 5-1/4 years at 7.95 per cent, a bank document showed.
The yield was tightened from initial guidance of 8.125 per cent to 8.25 per cent for the equity-like debt sale after orders topped $1 billion, the document from one of the banks involved in the deal showed.
Citi, HSBC — the sole green structuring agent — and Standard Chartered are joint global coordinators, joined by Abu Dhabi Commercial Bank, Emirates NBD Capital and First Abu Dhabi Bank as joint lead managers.
The bond sale, expected to price later on Thursday, is to refinance MAF’s outstanding $500 million perpetual bonds. — Reuters
More news from Markets
The offering size is confirmed at Dh750 million, resulting in the issuance of a total of 250,000,000 new ordinary shares
They were weighed down by a strong dollar after better-than-expected US retail sales data clouded hopes of a smaller rate hike
Weaker crude oil prices could cap losses, but Asian and emerging market peers were weak this Thursday morning, notes a senior research analyst
Reports show inflation eased in October with consumer price index logging its lowest annual pace since January
Reports about Russian missiles killing two people in Poland have led to a demand for safe-haven assets
It depreciated 66 paise to 81.57 against the US dollar, tracking the strength of the American currency and a muted trend in Indian equities
'The catalyst for the recent strong rally was partially the correction of the US dollar,' says expert