Dubai malls operator celebrates $300m bond for expansion plans

Alain Bejjani, CEO at Majid Al Futtaim Holding, rang the market-opening bell on Monday to celebrate the listing on Nasdaq Dubai of a $300 million tap under its existing $3 billion conventional bond programme.
The capital raised by the bond tap will support Majid Al Futtaim’s ongoing expansion in shopping malls, grocery, retail, residential communities, leisure, health and other sectors across the Middle East and Africa, a statement said.
The bond tap was issued by MAF Global Securities, part of the Majid Al Futtaim group. Previous issuances by MAF Global Securities which are listed on Nasdaq Dubai include a 7 year $500 million bond listed in July 2013 and the tapped instrument, a 10 year $500 million bond, listed in May 2014...Read more...