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Emaar to issue $500 million worth of Trust Certificates

Emaar Properties said today it has signed final terms related to the issuance of a AED 1.84 billion ($500 million) Trust Certificates.

Emaar said in a statement published on Dubai Financial Market website that the issuance is part of its $2 billion Trust Certificate Issuance Programme.

The announcement of the 10-year sukuk carry an annual return of 3.875 percent due in 2029 and follows meetings with investors in Singapore, Hong Kong and London regarding the possible offering of a US$ 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,” the statement added.

Source: WAM

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