April 11, 2017 / 3:52 PM / 3 months ago

UAE'S DAMAC prices $500 mln 5-yr sukuk at par with 6.25 pct profit rate - lead

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DUBAI, April 11 (Reuters) - DAMAC Properties, Dubai's second-largest developer, has priced at par a $500 million sukuk with a five-year tenor and a profit rate of 6.25 percent, a document issued by one of the banks leading the deal showed on Tuesday.

The Regulation S, senior unsecured Islamic bond was priced with a spread of 430.3 basis points over mid-swaps.

BofA Merrill Lynch, Emirates NBD Capital, HSBC and VTB Capital are the joint bookrunners. (Reporting by Davide Barbuscia; Editing by Mark Potter)

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