Tuesday , December 18 2018

Noor Bank markets $500mn 5-yr sukuk

DUBAI / Reuters

Dubai-based Noor Bank has started marketing a five-year sukuk worth $500 million with an initial price guidance of around 175 basis points over mid-swaps, a document from one of the banks leading the transaction showed.
Noor Bank, rated A-(minus) by Fitch, plans to price the senior unsecured Islamic bonds later on Tuesday. Citi, Deutsche Bank, Dubai Islamic Bank, Emirates NBD Capital, Noor Bank, Sharjah Islamic Bank, Standard Chartered Bank and Warba Bank have been appointed as bookrunners for the issue.

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