IslamicFinance.de

Jebel Ali Free Zone FZE wants to raise a mix $1.85 billion from a bank facility and the sale of Islamic bonds to help refinance its 7.5 billion-dirham ($2 billion) debt maturing in November.
It appears that the company authorized Abu Dhabi Commercial Bank PJSC, Abu Dhabi Islamic Bank PJSC, Citigroup Inc., Dubai Islamic Bank PJSC, Emirates NBD PJSC, National Bank of Abu Dhabi PJSC and Standard Chartered Plc to prepare investor meetings in Asia, Europe and the Middle East from June 5 ahead of a possible sukuk sale.

Banks in the United Arab Emirates may choose to refinance more than $3 billion of bonds due this year should pricing remain at current levels, as they search to extend the average maturity of their debt.
UAE banks have about $3.49 billion of bonds and sukuk maturing in 2012, according to data gathered by Bloomberg. This data also shows that Profit at UAE banks is starting to recover from the worst financial crisis since the 1930s, which curbed lending and forced them to take provisions against some of Dubai’s government-related entities.
Abu Dhabi Commercial Bank PJSC sold $500 million of five-year dollar-denominated sukuk in November.