Dubai Investments unit to hire HSBC, Citigroup to sell Islamic bonds

Dubai Investments PJSC's property unit hired HSBC Holdings Plc and Citigroup Inc. to sell Islamic bonds early next year as it seeks to refinance an existing sukuk, Bloomberg reports. Dubai Investments Park Development, which develops and manages property for the holding company, is also working with First Abu Dhabi Bank, Emirates NBD and Dubai Islamic Bank to place the five-year notes, said the people, asking not to be identified because the information is private. The sale could raise about $500m, one of the people said. "The DIP sukuk 2014 is maturing in February 2019 and DIPDC i...