Tamweel, a unit of Dubai Islamic Bank, plans to sell a $235 million sharia-compliant asset-backed securitisation, arranging banks said on Tuesday.
The Islamic instrument, due 2046 but callable after five years in July 2017, is seen pricing at between 335 and 345 basis points over the 1-month London interbank offered rate (Libor).
Dubai-based Islamic mortgage provider Tamweel concluded investor meetings on Monday and said any eventual transaction will be backed by properties and receivables located in Dubai.
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