Dubai’s government may raise more than $1 billion from a planned sale of Islamic bonds and has mandated five banks including HSBC Holdings Plc (HSBA) for the offering, according to two people familiar with the deal.
Standard Chartered Plc (STAN), Emirates NBD PJSC (EMIRATES), Dubai Islamic Bank PJSC (DIB) and National Bank of Abu Dhabi PJSC have also been hired for the sale of sukuk, the people said, asking not to be identified because the information is private. A sale may start as soon as tomorrow, according to one of the bankers………………………………………..Full Article: Source