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Nakheel to pay $59.88m sukuk profit

Dubai, June 12, 2014

Nakheel, a leading UAE developer, has confirmed a profit payment of Dh220 million ($59.88 million) on its trade creditor sukuk.

Instructions have been sent to Deutsche Bank, the registrar and paying agent for the sukuk, to make the profit payment to all sukuk holders on the due date of June 15 against the sukuk issued amount of Dh4.4 billion to date, said a statement.

A Nakheel spokesman said: “We continue to honour our financial commitments and to implement our revised business plan, further helping the recovery of the real estate sector in Dubai.  In turn, investor and contractor trust in Nakheel continues to grow.” -TradeArabia News Service




Tags: nakheel | sukuk | profit | payment |

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