Bloomberg News

Dubai’s MAF Holdings Plans Meetings With Fixed-Income Investors

January 24, 2012

Jan. 24 (Bloomberg) -- Majid Al Futtaim Holding LLC, the operator of Carrefour SA stores in the Middle East, will hold meetings with fixed-income investors on Jan. 29 and Jan. 30, according to three bankers familiar with the transaction.

A sale of Islamic bonds may follow subject to market conditions, the bankers said, declining to be identified because the information is private. Meetings will be held in Dubai and Abu Dhabi on Jan. 29, and London and Kuala Lumpur on Jan. 30, according to the bankers.

Abu Dhabi Islamic Bank PJSC, Dubai Islamic Bank PJSC, HSBC Holdings Plc and Standard Chartered Plc will arrange the meetings.

Majid Al Futtaim set up a $1 billion Islamic bond program, according to a regulatory statement earlier this month. The Dubai-based company will seek to raise about $500 million from the sale of five-year Islamic bonds, its treasury manager Daniele Vecchi said in November.

--Editors: Claudia Maedler, Shaji Mathew

To contact the reporter on this story: Arif Sharif in Dubai at asharif2@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net -0- Jan/24/2012 13:05 GMT


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