Dubai’s government may raise more than $1 billion from a planned sale of Islamic bonds and has mandated five banks including HSBC Holdings Plc (HSBA) for the offering, according to two people familiar with the deal.
Standard Chartered Plc (STAN), Emirates NBD PJSC (EMIRATES), Dubai Islamic Bank PJSC (DIB) and National Bank of Abu Dhabi PJSC have also been hired for the sale of sukuk, the people said, asking not to be identified because the information is private. A sale may start as soon as tomorrow, according to one of the bankers. Reuters reported the story earlier today.
The Dubai government’s last bond issuance was in April, when it sold $1.25 billion of sukuk in two tranches, including $600 million of five-year notes at a coupon of 4.9 percent. It also raised $650 million of 10-year bonds at a 6.45 percent coupon. The offering secured $4.5 billion in bids.
Dubai Said to Hire HSBC, StanChart for $1 Billion Islamic Bonds - Bloomberg
No comments:
Post a Comment