1 Minute Read by Reuters Staff Reuters, DUBAI, July 8 – According to four financial sources, a $350 million sukuk offer from Private Department of Sheikh Mohamed Bin Khalid Al Nahyan LLC (PD), a relatively tiny real estate operator in Abu Dhabi owned by members of the royal family, was canceled late Wednesday. Two sources stated that PD had been seeking up to $600 million and that if the sale had been priced at $350 million, the outlook on its ‘Ba1’ Moody’s rating would have been altered to negative, and that it could have even been downgraded. A request for comment was not immediately returned. (Davide Barbuscia and Yousef Saba contributed reporting.) Mark Potter edited the piece.)/n
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