#Bahrain's sovereign wealth fund Mumtalakat hires banks for dollar sukuk - Reuters

Bahrain's sovereign wealth fund Mumtalakat hires banks for dollar sukuk - Reuters:

Bahrain’s sovereign wealth fund Mumtalakat has hired banks to arrange fixed income investor meetings ahead of a potential issue of U.S. dollar-denominated sukuk, or Islamic bonds, a document by one of the banks leading the deal showed. 


The fund has picked Citi (C.N), Gulf International Bank, HSBC (HSBA.L), National Bank of Bahrain NATB.BH and Standard Chartered (STAN.L) for meetings in London, Asia and the Middle East, starting on Thursday.

A seven-year issuance might follow, subject to market conditions, the document said.

The deal could be the first international debt sale by a Gulf borrower this year.