Dubai’s Damac Real Estate to price new dollar certificates

By Rebecca Melvin

New York, April 3 – Alpha Star Holding V Ltd., a subsidiary of Damac Real Estate Development Ltd., plans to price new U.S. dollar-denominated trust certificates under Regulation S concurrently with a tender offer for up to $250 million of its $452,276,000 outstanding of trust certificates due 2019, according to an announcement.

The new certificates are expected to price on April 11.

The tender offer is subject to successful pricing of the new certificates (see related story).

Barclays Bank plc, Emirates NBD PJSC and HSBC Bank plc are dealer managers of the liability management transactions.

Damac is a Dubai-based real estate development company.

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