DUBAI, July 12 (Reuters) - Dubai real estate developer Emaar Properties launched a $500 millio
n seven-year sukuk at a profit rate of 6.4 percent on Thursday, arranging banks said.
Final pricing is due later in the day, with order books said to be in excess of $4.5 billion. Pricing at launch for the sukuk was tighter than guidance released on Wednesday, signalling strong appetite for the deal.
Abu Dhabi Islamic Bank, Standard Chartered Plc , HSBC Holdings, Abu Dhabi's Al Hilal Bank, Qatar's Barwa Bank, Emirates NBD, Dubai Islamic Bank and Noor Islamic Bank are mandated on the deal.
(Reporting by Rachna Uppal; Editing by Dinesh Nair) Keywords: EMAAR SUKUK/
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