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UAE’s DAMAC says unit raises $100m via sukuk certificates

UAE’s DAMAC says unit raises $100m via sukuk certificates

The certificates, rated BB by Standard & Poors, were issued by its unit Damac Real Estate Development Ltd

Dubai’s DAMAC Properties said on Tuesday that it raised $100m through private placement of 18-month sukuk certificates.

The certificates, rated BB by Standard & Poors, were issued by its unit Damac Real Estate Development Ltd, it said in a bourse statement.

Emirates NBD was the sole lead manager for the transaction.

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