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MAF raises $500m from bonds sale

April 30, 2014 11:08 am

Dubai’s Majid Al Futtaim Holding, the operator of Carrefour supermarkets in the Middle East, has raised $500m from the sale of 10-year bonds in its first issue in six months, Bloomberg has reported, citing two people familiar with the deal. The company, which also owns the mall in Dubai boasting an artificial ski slope, last month reported a 24% jump in attributable profit to Dhs1.9bn ($517m). It plans to invest EGP16.5bn ($2.4bn) in Egypt over the next five years, including opening 32 Carrefour stores and three malls, the firm said last month.