Qatar sets price guidance for benchmark sukuk
The Gulf state set initial guidance of 135 basis points over mid-swaps for the five-year tranche, and 175 bps over for the 10-year tranche.
July 10, 2012 12:40 by Reuters
Qatar has set initial profit guidance on the sale of its two-tranche benchmark sukuk (Islamic bond), lead arrangers said on Tuesday.
The Gulf state set initial guidance of 135 basis points over mid-swaps for the five-year tranche, and 175 bps over for the 10-year tranche.
A benchmark bond is typically at least $500 million in size.
Qatar has hired HSBC Holdings, Deutsche Bank , Standard Chartered Plc and local lenders Barwa Bank and QInvest for the sale.
The sukuk is scheduled to be sold this week, according to documents from lead banks.
(Reporting by Mala Pancholia; Writing by Dinesh Nair; Editing by Andrew Torchia)
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