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Albaraka Turk issues price guidance for benchmark dollar sukuk due Monday
June 23, 2014 / 8:07 AM / in 3 years

Albaraka Turk issues price guidance for benchmark dollar sukuk due Monday

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DUBAI, June 23 (Reuters) - Turkish participation lender Albaraka Turk plans to complete a benchmark-sized sukuk issue with a five year lifespan on Monday, a document from lead arrangers said, with initial pricing thoughts for the deal announced.

The bank, a unit of Bahrain-based Al Baraka Banking Group , aims to price the transaction in the area of low 6 percent, the document said.

Benchmark sized is traditionally understood to mean in excess of $500 million.

Order books for the dollar-denominated deal are open. Emirates NBD, Nomura, Qinvest and Standard Chartered are arranging the transaction. (Reporting by David French; Editing by Olzhas Auyezov)

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