Islamic finance - Reach for the sky

Sukuk

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It took just days for Aldar, Abu Dhabi's largest property company, to withdraw the prospectus for its debut $1.3 billion sukuk. Such had been investor demand for the four-year Islamic bond that in mid-February, the firm announced it would be almost doubling the size of the issue to $2.53 billion. Not only that, but investors would be paid a full 10 basis points less than the Libor plus 75bp that had been previously marketed.

It is now clear investors could have been pushed even lower. Trading

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