Aberdeen Standard Investments and ten other institutional investors of Emirates Reit have collectively claimed support of a majority of certificate holders to prevent the real estate investment trust's bid to exchange a $400m sukuk for new securities, according to report by the Khaleej Times on 3 June. The UAE's largest Shariah-compliant real estate investment trust, which has reportedly suffered $243m in face-value losses on rental assets, has offered to exchange the unsecured sukuk securities due in 2022 for new secured notes maturing in 2024. Investors opposing the move formed an a...
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