05.07.2012 - Emirates Islamic Bank eyes $500 mln sukuk; strong demand seen
Emirates Islamic Bank, the sharia-compliant arm of Dubai lender Emirates NBD, has set final guidance for its $500 million sukuk, lead arrangers said on Wednesday. Guidance for the profit rate was revised to a spread of 315 basis points over midswaps, with a margin of 5 basis points on both sides. On Tuesday, the bank issued initial price talk in the area of 330 basis points over midswaps. The tightening indicates strong demand for the deal, with orderbooks at around $3.75 billion, according to lead arrangers...............................................Full Article: Source
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