Meraas Holding issues $200m tap of private sukuk due in 2022

Dubai: Dubai’s Meraas Holding, a real estate developer owned by the government, priced on Monday a $200 million (Dh734 million) tap of the $400 million sukuk which it sold privately at the end of May, a document showed.

Under a bond tap, an existing transaction is reopened for subscription, using the same documentation as before.

The $200 million of private sukuk, due in May 2022, were priced at a 4.991 per cent yield to maturity and arranged by Dubai Islamic Bank and Emirates NBD Capital, the document showed.