Dubai releases guidance on dual-tranche sukuk

Tue Apr 24, 2012 5:56am EDT

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LONDON, April 24 (IFR) - The government of Dubai has announced guidance on a US dollar dual-tranche sukuk at 5% area for a five-year tranche and 6.50% area for a 10-year.

The deal is Reg S only format and will be listed on the Dubai Financial Market. Citigroup, Dubai Islamic Bank, HSBC and NBAD are the lead managers. Timing is as soon as possible.

Dubai is unrated. (Reporting by Sudip Roy)