The worlds largest Sukuk worth US$3.5 billion, from Dubai Ports, Customs and Free Zone Corporation (PCFC)' has been listed on the Dubai International Financial Exchange
(DIFX).
The Executive Chairman of PCFC, Sultan Ahmed Bin Sulayem, commented: We are an international company and the DIFX is the first truly international exchange in the region. It
gives us better international exposure, hence it is our natural choice. The DIFX has some of the best policies, it has credibility and it is independent. This is the best platform for our first listing. We have other instruments that we would like to list on the DIFX in the coming
years.br />
Lead managed by Dubai Islamic Bank and Barclays Capital, the convertible Sukuk is part of a large financing package being arranged for PCFCs general corporate activities, ongoing business development needs and expansion plans. The Sukuk will trade over the counter rather than on the exchange. |
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