December 14 2006
Dubai Worlds property arm, Nakheel, lists the
worlds largest sukuk on the Dubai International
Financial Exchange (DIFX) - a three-year $3.52 billion bond.
According to IFLRs coverage at the time,
payments on the bond principal are guaranteed by Dubai
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....