Qatar International Islamic Bank plans to issue a benchmark-sized, five-year dollar sukuk, arranging banks said on Wednesday.

Benchmark-sized is normally understood to mean at least $500 million. Early price talk for the sukuk was released at 205 basis points over midswaps.

HSBC, Standard Chartered and QNB Capital are mandated arrangers on the deal. Investor meetings are due to conclude in London on Monday.

QIIB's sukuk would follow a sukuk issue from Qatar Islamic Bank last week, which raised $750 million at a profit rate of 2.5 per cent.-Reuters