April 11, 2017 / 10:32 AM / 4 months ago

UAE's DAMAC sets final yield for $500 mln 5-yr sukuk at 6.25 percent - lead

DUBAI, April 11 (Reuters) - DAMAC Properties, Dubai's second-largest listed developer, has set the final yield of its planned $500 million five-year sukuk at 6.25 percent, a document issued by one of the lead banks showed on Tuesday.

Initial price guidance for the bond was released on Monday in the mid-6 percent area before tightening to 6.375 percent earlier on Tuesday.

Order books amounted to about $1.1 billion, the document said. The sukuk, arranged by BofA Merrill Lynch, Emirates NBD Capital, HSBC, and VTB Capital will price later on Tuesday, the document said. (Reporting by Davide Barbuscia, editing by Louise Heavens)

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