Dubai-listed Tabreed hires banks for dollar sukuk | ZAWYA MENA Edition

Dubai-listed Tabreed hires banks for dollar sukuk | ZAWYA MENA Edition:

Dubai-listed National Central Cooling Co (Tabreed) has hired banks to arrange fixed income meetings ahead of a planned sale of U.S. dollar-denominated sukuk, or Islamic bonds, according to documents reviewed by Reuters.

The company has hired Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, JPMorgan and Mashreq Bank as joint lead managers to arrange meetings in Europe, Asia and the Middle East starting on Oct. 19.

Tabreed plans to issue benchmark-sized sukuk, which generally means upwards of $500 million, with a seven-year maturity.