Dubai to sell 15-year benchmark sukuk
Dubai, April 22, 2014
The government of Dubai plans to sell a benchmark-sized sukuk with a lifespan of 15 years on Tuesday, a document from lead managers said.
Initial price thoughts on the Islamic bond have been set between 5 and 5.125 percent, the document said. Benchmark size is traditionally understood to mean at least $500 million.
The banks arranging the transaction are Dubai Islamic Bank , Emirates NBD, HSBC, National Bank of Abu Dhabi and Standard Chartered. -Reuters