Dubai 10-year sukuk order book at USD2bn - Lead

Tue Jan 22, 2013 3:42am EST

LONDON, Jan 22 (IFR) - The order book on Emirate of Dubai's 10-year sukuk is at USD2bn, according to a lead.

The sovereign is looking to raise at least USD1bn, and put out initial price guidance of low 4% earlier Tuesday. At those levels, it is flat against the 6.45% 10-year sukuk issued by the emirate last year, which was trading this morning at 4%-4.05%.

Leads Dubai Islamic Bank, Emirates NBD, HSBC, NBAD and Standard Chartered will look to price inside that note. (Reporting By Davide Scigliuzzo)