MAF prints tight 10-year bond

摘要

Emirati malls operator majid al futtaim took advantage of strong sentiment towards the Gulf with a swift intra-day trade that significantly extended its debt maturity profile. The Dubai-based firm locked in some long-term funding last Wednesday by pricing a US$500m 4.75% 2024 note issue at 99.835 to yield 4.771%. "The backdrop was extremely favourable with the [previous week's] Dubai transaction going through and the Mubadala bond going well," said Daniele Vecchi of the treasury department at MAF. "We spend a lot of time on marketing activity, so it was possible to do a quick deal."