Dubai's Tamweel prices $300 mln sukuk - leads

DUBAI Thu Jan 12, 2012 10:23am EST

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DUBAI Jan 12 (Reuters) - Tamweel, the Dubai-based sharia-compliant mortgage lender, has priced a $300 million five-year Islamic bond, or sukuk, a document from lead managers said on Thursday.

The paper, which is fully guaranteed by majority shareholder Dubai Islamic Bank, priced at par with a profit rate of 5.154 percent and carried a spread of 400 basis points over midswaps, the document said.

Citi, DIB and Standard Chartered were lead managers on the transaction. (Reporting by David French; Editing by Matt Smith)

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