DUBAI, July 25 Abu Dhabi's First Gulf Bank
has set initial price guidance for a five-year,
dollar-denominated benchmark Islamic bond at 210 basis points
above midswaps, a document from the lead banks showed on Monday.
Joint bookrunners for the Islamic bond, or sukuk, issue are
Citibank , HSBC and Standard Chartered .
A benchmark bond is typically at least $500 million.
The company kicked off investor meetings for a potential
sukuk issuance in Kuala Lampur on July 21 and will conclude its
roadshow on Tuesday in Switzerland.
FGB, 67 percent owned by Abu Dhabi's ruling family, set up a
new $3.5 billion Islamic bond programme earlier this month
paving the way for its first sukuk sale.
(Reporting by Shaheen Pasha, Ediitng by Dinesh Nair)