HSBC Bank Middle East Ltd sold $500 million of five-year Islamic bonds yielding 155 basis points above the mid-swap rate.
The 3.575 per cent sukuk is the third bond that complies with Shariah’s ban on interest to be sold in the Gulf this month, according to Bloomberg data. Sharjah Islamic Bank sold a 4.715 per cent Islamic bond on May 18, and Islamic Development Bank, a Jeddah-based multilateral lender, issued a 2.35 per cent sukuk on the same day……………………………………….Full Article: Source