Majid Al Futtaim sets bond price guidance

Majid Al Futtaim, a UAE conglomerate, on Tuesday set final price guidance on a planned international bond at 5.625 per cent and will price within a range of 12.5 basis points above or below that figure, a document issued by the banks leading the transaction showed.

Order books for the bond topped $1.6 billion but the size of the perpetual non-callable 5.5-year bond was capped at $500 million. The bond was expected to price later on Tuesday.