PARIS, France - Dubai Majid Al Futaim (MAF), which develops shopping malls across the Middle East, has hired banks to refinance its outstanding $500 million perpetual bonds, a bank document showed on Monday.
Citi, HSBC - the sole green structuring agent - and Standard Chartered were hire as joint global coordinators, the document showed. They are joined Abu Dhabi Commercial Bank, Emirates NBD Capital and First Abu Dhabi Bank as joint lead managers.
They will hold investor calls starting on Monday. An issuance of benchmark, U.S. dollar - denominated reset subordinated perpetual green hybrid bonds non - callable for 5-1/4 - year may follow, subject to market conditions, the document said.
MAF has announced a tender offer for the outstanding perpetual notes that have a first reset date on Sept,7 to purchase up to the amount of the new notes, subject to the completion of the new issuance.
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