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Property firm owned by Abu Dhabi royals pulls $350 mln sukuk - sources

07/08/2021 | 03:14am

DUBAI, July 8 (Reuters) - A $350 million sukuk deal from Private Department of Sheikh Mohamed Bin Khalid Al Nahyan LLC (PD), a relatively small real estate player in Abu Dhabi owned by members of its ruling family, was pulled late on Wednesday, four financial sources said.

PD had been seeking up to $600 million and would most likely have had the outlook on its 'Ba1' Moody's rating changed to negative had the deal priced at the $350 million size, two of the sources said, one adding it could have even been downgraded.

The firm did not immediately respond to a comment request. (Reporting by Davide Barbuscia and Yousef Saba Editing by Mark Potter)

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