Dubai World: timeline

Author: | Published: 10 Dec 2009

December 14 2006

Dubai World’s property arm, Nakheel, lists the world’s largest sukuk on the Dubai International Financial Exchange (DIFX) - a three-year $3.52 billion bond. According to IFLR’s coverage at the time, payments on the bond principal are guaranteed by Dubai World.

IFLR reports: http://www.iflr.com/Article.aspx?ArticleID=1977366

Clifford Chance on the deal: http://www.iflr.com/Article.aspx?ArticleID=1983830

May 13 2008

Nakheel lists a two-year AED 3.6 billion ($9.8 million) sukuk on the DIFX. Again, Dubai World agrees to guarantee payment obligations under the sukuk. Eighty eight percent of the issue is taken up by investors in the Middle East, with the remainder held internationally....