UPDATE 1-Islamic Development Bank picks banks for potential sukuk
* Islamic Development Bank eyes potential dollar sukuk
* Names 5 banks to arrange investor meetings, scheduled June 10-18
* Sukuk sales viable despite global volatility (Adds details)
DUBAI, June 6 (Reuters) - Saudi-based Islamic Development Bank (IDB) picked five banks to arrange roadshows ahead of a potential dollar-denominated Islamic bond, or sukuk, which would be its first trade in over a year, lead arrangers said on Wednesday.
The supranational bank mandated BNP Paribas, CIMB , HSBC, National Commercial Bank and Standard Chartered to arrange the meetings and to act as bookrunners on the sukuk, which will print subject to market conditions.
Qatar's Barwa Bank is also involved in the potential trade as a lead manager.
Demand for sukuk has remained resilient in the face of volatile global markets which have closed out conventional issues from emerging market names due to a dedicated investor base which has significant liquidity to deploy.
Banque Saudi Fransi and Dubai Islamic Bank have completed well-oversubscribed transactions in May.
IDB's chairman, Ahmad Mohamed Ali, told Reuters last month the bank planned to issue $500 million to $1 billion of five-year sukuk in June.
Roadshows will commence in Riyadh on June 10, before taking in Kuala Lumpur on June 12, Singapore on June 13 and conclude in London on June 18.
IDB, rated AAA by the three main ratings agencies, last came to the market in May 2011, when it priced a $750 million five-year sukuk at a spread of 35 basis points over midswaps to yield 2.35 percent. [ID: nLDE74H1NW] (Reporting by David French; Editing by Praveen Menon)
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