Dubai’s Damac picks banks for potential sukuk issue -IFR

Dubai: Dubai developer Damac Real Estate will meet investors in Singapore, the UAE and London from March 28 for a potential offering of a dollar-denominated sukuk, Thomson Reuters service IFR reported on Thursday.

London-listed Damac has appointed Barclays, Citigroup, and Deutsche Bank as joint global coordinators, as well as joint lead managers with Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates NBD Capital and National Bank of Abu Dhabi to arrange the meetings.

Damac did not say how much it could borrow or provide any other details.