HSBC's (HSBA.L) Middle East unit launched a $500 million Islamic bond at 155 basis points over midswaps, the lower end of an earlier guidance, with final pricing expected later Thursday.
HSBC Middle East, a subsidiary of the U.K.-based lender, held roadshows this week in Asia, the Middle East and London gauge sentiment for a five-year Islamic bond, or sukuk as the lender looks to tap demand for Islamic paper. [ID:nLDE74N02C]
It had earlier set a guidance of 155-160 basis points over midswaps for the sale.
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