Qatar's Masraf Al Rayan hires banks for debut dollar sukuk - sources | Reuters:
Qatari Islamic lender Masraf Al Rayan has hired banks ahead of a potential sale of U.S. dollar-denominated sukuk, or Islamic bonds, sources familiar with the matter said.
The planned deal - which would be Masraf’s first public debt sale - would follow last week’s international bond issues by Qatar Islamic Bank and Qatar National Bank, as the Gulf state’s banks take advantage of improved market conditions to boost their finances.
The planned five-year sukuk will be of benchmark size, which generally means upwards of $500 million, the sources added.
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