Home Trade And business Emirates REIT cancels exchange offer for existing Sukuk | Corporate News

Emirates REIT cancels exchange offer for existing Sukuk | Corporate News

3
0

We are thrilled to have you on our site. If you enjoy the post you have just found kindly Share it with friends.

Dubai-listed Emirates REIT, a Shariah-compliant real estate investment trust, said it had canceled an offer to holders of its $400 million sukuk to exchange their notes for a new instrument.

Emirates REIT needed a special 75% majority for the voluntary proposal, which was seeking the approval of the sukuk holders to replace the existing unsecured sukuk with secured sukuk, to proceed with implementation.

He said in a statement that 57 percent of the holders voted for it.

$(function () { $("ul#ticker01").liScroll(); $("ul#ticker02").liScroll(); });

.

Disclaimer: The opinions expressed within this article are the personal opinions of the author. The facts and opinions appearing in the article do not reflect the views of Algulf.net and Algulf.net does not assume any responsibility or liability for the same.

LEAVE A REPLY

Please enter your comment!
Please enter your name here