Emirate of Sharjah picks banks for potential benchmark sukuk - sources | Reuters:
"The emirate of Sharjah is planning to raise funds through a dollar-denominated sukuk of benchmark size, sources aware of the matter said on Tuesday, in what could be the first sovereign sukuk issuance from the region this year.
Six local and international banks have been mandated for the sukuk including HSBC, which is leading the transaction, two of the sources said, speaking on condition of anonymity as the information isn't public.
The sovereign is aiming to issue the Islamic bond in the first quarter of the year and could announce investor meetings for the deal as early as this month, the sources added. Benchmark size is traditionally understood to mean in excess of $500 million.
An official at Sharjah's department of finance declined to comment on the matter. (Editing by David French)"
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