IslamicFinance.de

Drake & Scull International (DSI) announced it has mandated five banks for an issue of perpetual USD sukuk, subject to market conditions. Emirates NBD Capital and HSBC have been mandated as joint global coordinators, and Al Hilal Bank, Emirates NBD Capital, HSBC and Standard Chartered Bank as joint lead managers to arrange a series of fixed income investor meetings in the Middle East and Europe commencing on 4 June, 2015. DSI reported $302m (AED1.11bn) in revenues and $7.6m (AED27.8m) in net profit in Q1 2015. DSI's order backlog closed at $375m (AED13.8bn) as of March 31, 2015.