Source: IFN, Russia
VTB Capital has helped arrange a $500 million sukuk for UAE based property developer Damac (NR/BB/NR). The sukuk issued in the name of Alpha Star Holding III Limited drew demand of around $1 billion and was priced at a profit rate of 6.25%. The issuance came in tighter than its initial price guidance of 6.5% and will be used to repay Damac’s USD650m sukuk ....