UAE’s Arada Developments Sets Initial Price Guidance of 8.25% for 5-Year Sukuk 

The United Arab Emirates’ Arada Developments (Arada) has given an 8.25% initial price guidance for a 5-year Sukuk, as per a document shown on the 31st of May 2022.

Why it Matters?

The auction will be Arada’s debut offering as well as the Gulf region's first public dollar bond sale since the Sharjah government offered Sukuk worth USD 750 million in late March 2022. The sale is anticipated to close on the 7th of June 2022 and Arada has emphasised the government's and regulatory authorities' proven support, including a loan guarantee of up to USD 436 million, flexible payment schedules, and priority land allotment.

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