Majid Al Futtaim, PLUS, Al Hilal: Islamic Bond Alert

The following borrowers are expected to sell Islamic bonds, which use asset returns to pay investors to comply with the religion’s ban on interest. Global sales of sukuk climbed to $21.8 billion in 2011, from $14.3 billion a year earlier, according to data compiled by Bloomberg.

MAJID AL FUTTAIM HOLDING LLC: The Dubai-based operator of Carrefour SA stores in the Middle East plans to raise about $500 million from the sale of five-year Shariah-compliant bonds to boost cash reserves, Daniele Vecchi, its treasury manager, said in a telephone interview. A decision on when to proceed with an offering depends on market conditions, with U.K.-based banks