Nakheel Plans Sukuk Sale in 2011 After Slump: Islamic Finance
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National Commercial Bank, Saudi Arabia’s largest lender and Dubai developer Nakheel PJSC are among five borrowers in the Persian Gulf that may offer Islamic bonds next year after sales dropped 40 percent in 2010.
Companies in the region announced this quarter plans to sell as much as $3 billion of sukuk, according to data compiled by Bloomberg. Five companies in the Gulf raised $4 billion through Islamic bonds this year, down from the $6.7 billion raised in 2009 by seven issuers, the data show.