UAE'S RAK eyes next tranche of $2 bln bond programme

Ras al-Khaimah, a member of the United Arab Emirates, has started marketing the next tranche of a $2 billion Islamic bond programme, the latest government-backed debt issuance in the Gulf Arab region.

The emirate began investor meetings on July 6 in the Middle East, Asia and Europe, it said in a statement distributed by lead managers Standard Chartered and BNP Paribas.

The roadshow would update investors on its "certificate issuance programme", it said without providing more details.