Dubai Plans for 5 And 10 Year Sukuk Imminent
The government of Dubai plans to issue a benchmark Islamic bond, or sukuk, made up of a five-year and a 10-year tenor, arranging banks said on Tuesday.
April 24, 2012 2:58 by kippreport
The government of Dubai plans to issue a benchmark Islamic bond, or sukuk, made up of a five-year and a 10-year tenor, arranging banks said on Tuesday.
Guidance for the five-year and 10-year tranche is in the 5 percent and 6.5 percent area, respectively. Benchmark-sized is usually understood to mean at least $500 million.
Citigroup Inc., HSBC, National Bank of Abu Dhabi and Dubai Islamic Bank are mandated arrangers on the deal, which is due to launch “as soon as possible,” according to arrangers.
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