25.04.2012 - Dubai issues dual-tranche Sukuk
Dubai plans to launch a dual-tranche Islamic bond imminently, the banks arranging the issue said on yesterday, and is expected to attract healthy investor demand. The five- and ten-year benchmark sukuk is Dubai's first Islamic bond since 2009. Initial guidance was seen around 5 and 6.5 per cent respectively for the two tranches. Sources told Reuters earlier yesterday that the emirate had mandated four banks Citigroup, HSBC, National Bank of Abu Dhabi and Dubai Islamic Bank for a bond that could raise up to $1.5 billion (Dh5.5 billion)...............................................Full Article: Source
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