Middle East Economic Survey
Nakheel To Issue $1.6Bn Sukuk In January
Dubai-based property developer Nakheel plans to issue a Dh6bn ($1.6bn) Islamic bond, or sukuk, to trade creditors at the end of January as part of its debt restructuring plan. The sukuk will mature in five years and carry a profit rate of 8%, according to reports. The company is part of troubled conglomerate Dubai World, but is handling its recapitalization and restructuring separately,...