| Hot property: Deutsche Bank and Morgan Stanley are marketing a $300 million IPO for Kingdom Hotel Investments |
The Middle East’s debut Shariah-compliant residential mortgage backed securitization is being prepared for the Saudi Arabian market by Unicorn Investment Bank and Standard Bank. The dollar-denominated bond, which should be marketed this month, is the result of more than a year’s work by the joint lead managers. It will be backed by the residential mortgages of a Saudi mortgage company, primarily on properties in Riyadh and Jeddah.
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