TDIC to launch corporate Sukuk

10 September 2009

Abu Dhabi's Tourism Development & Investment Co (TDIC) is set to launch an Islamic bond issue for general corporate purposes, Reuters has reported, citing two bankers familiar with the deal. 'TDIC is aiming for something between $500m and $1bn,' one of the bankers has said. HSBC, Abu Dhabi Commercial Bank and Standard Chartered have been mandated for the Sukuk sale, the bankers said.

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