Dubai-listed Emirates REIT (REIT.DI), a sharia-compliant real estate investment trust, has rescinded an offer for holders of its $400 million sukuk, or Islamic bonds, to exchange their notes for a new instrument, the company said on Monday.
Emirates REIT needed a 75% special majority for the voluntary proposal, which sought sukukholders' approval to exchange the outstanding unsecured sukuk with secured ones, to proceed. It said in a statement that 57% of holders voted in favour.
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June 07, 2021 at 01:05PM
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Emirates REIT rescinds exchange offer for outstanding sukuk - statement - Reuters
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