UAE: Emirati retail conglomerate Majid Al Futtaim (MAF) is looking to issue a new US dollar-denominated 10-year benchmark-sized green Sukuk facility for the purpose of funding or refinancing eligible green projects under the company’s Green Finance Framework of 2019, a bourse filing announced.
Benchmark-sized is typically understood to mean at least US$500 million.
MAF also announced a fixed price tender offer for its outstanding US$800 million senior unsecured notes due May 2024, for a maximum principal amount of US$500 million.