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Emirates Islamic starts marketing 5-year Sukuk

Emirates Islamic starts marketing 5-year Sukuk
The benchmark size deal is expected to close on Wednesday
Emirates Islamic
EIB
2.17% 8.00 0.17

Dubai – Mubasher: Emirates Islamic Bank began on Wednesday marketing US dollar-denominated five-year Sukuk, with initial price guidance of about 170 basis points over mid-swaps, Reuters reported.

The benchmark size deal of at least $500 million is expected to close later on Wednesday, as shown by a cited document published by one of the banks arranging the deal.

It is noteworthy to mention that the bank has hired Emirates NBD Capital, HSBC, The Islamic Corporation for the Development of the Private Sector, and Standard Chartered to arrange for investor calls.