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Emirates Islamic eyes benchmark sukuk

Dubai, January 3, 2012

Emirates Islamic Bank, a unit of Emirates NBD, has picked six banks for a potential benchmark-sized dollar sukuk, or Islamic bond, a source familiar with the matter said on Tuesday.

The lender selected National Bank of Abu Dhabi, HSBC, Standard Chartered, Citi, RBS  and ENBD Capital.

Investor meetings kick off in Malaysia on January 5 and will cover Singapore and Abu Dhabi before ending in London on January 10.

A sukuk could follow depending on market conditions, said the source who spoke on condition of anonymity.

Benchmark-sized is normally understood to be at least $500 million. – Reuters




Tags: abu dhabi | Dubai | sukuk | Emirates Islamic | ENBD |

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