$1bn sukuk already trading at a discount

Nakheel launched the Dh3.8 billion (US$1.03bn) Islamic bond as a part of its financial restructuring. Through this the company is underscoring investors' continued doubts about the embattled property giant's finances.
Ahmad Alanani is a senior executive officer in the fixed-income department of Exotix in Dubai. He states that retail buyers were taking shares from contractors at about 84 cents on the dollar, sending yields skywards. He predicts prices of 70 to 80 cents on the dollar in the future.

Arabian Gulf Sukuk May Reach $5 Billion in Fourth Quarter: Islamic Finance

Banks and companies in the Arabian Gulf may issue the most Islamic debt in three years in the fourth quarter as economic growth accelerates and Dubai’s companies reach agreements to restructure debt. The combination of declining yields in emerging markets and a successful restructuring of state-owned Dubai World’s debt may spur more sales, according to Exotix and Royal Capital PJSC.

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