MAF investor meets in Asia, Europe

UAE's Majid Al Futtaim Holding (MAF), the sole franchise of hypermarket chain Carrefour in the Gulf, has hired banks to arrange global investor meetings in the next two weeks, leads said. 
The developer and operator of shopping malls has set up a $2 billion global bond programme, paving the way for a potential debt issue. 
The investor roadshow will be held in UAE, Singapore, Hong Kong, Zurich and London from June 20 to June 28, the arranging banks said in a document seen by Reuters. 
Barclays, Credit Agricole, HSBC and Standard Chartered will arrange the fixed income meetings. 
MAF's primary subsidiary is MAF Properties, which develops and manages shopping malls and hotels in the Gulf. 
It plans 11 more Carrefour Hypermarkets in 2011, of which one opened in April in Saudi Arabia, and others in the UAE, Iran, Oman, Egypt, Iraq and Pakistan later this year. 
Borrowers in the UAE, which has largely been shielded from the regional political unrest, are seeing the current narrowing spreads as an attractive invitation to tap global liquidity amid strong investor demand. 
The company is rated BBB by Standard & Poors and BBB by Fitch both with stable outlook.
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