Dubai Islamic Bank hires banks for five-year sukuk sale – document

Dubai Islamic Bank (DISB.DU), the United Arab Emirates’ largest Islamic lender, has hired banks to arrange a sale of five-year U.S. dollar-denominated sukuk, a document showed on Monday.

Bank ABC (ABCB.BH), Dubai Islamic Bank, Emirates NBD Capital (ENBD.DU), First Abu Dhabi Bank (FAB.AD), KFH Capital (KFH.KW), HSBC (HSBA.L), Sharjah Islamic Bank (SIB.AD), Standard Chartered (STAN.L) and The Islamic Corporation for the Development of the Private Sector will arrange investor calls starting on Monday, the document from one of the banks showed.

An benchmark issuance, typically at least $500 million, of senior unsecured sukuk will follow, subject to market conditions, the document said. Reporting by Yousef Saba; Editing by Sherry Jacob-Phillips

This article was originally published by Reuters.