A $1bn sukuk (Islamic bond) programme planned by Sheikh Mohammed Bin Khalid Al-Nahyan’s Private Department company was withdrawn on 7 July, amid weak demand from investors.
The company focuses on property leasing and management, mainly in Abu Dhabi. Moody’s Investors Service assigned the company a rating of Ba1 on 5 July, ahead of the planned issue, but that was withdrawn on 12 July.
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