Aug 28 Hong Kong's government will hold investor
meetings next week for its maiden Islamic bond issue, a
spokeswoman for the Hong Kong Monetary Authority said on
A meeting will be held in Hong Kong on Monday before one in
Singapore on Tuesday, Kuala Lumpur on Wednesday and meetings in
Dubai, Doha, Abu Dhabi and London on Thursday.
The AAA-rated government earlier mandated HSBC,
Standard Chartered, CIMB Group Holdings and
National Bank of Abu Dhabi to arrange the issue.
The sukuk ijara issue is expected to be listed on the Hong
Kong, Malaysia and Dubai bourses, the spokeswoman told Reuters.
"The key issuance parameters will be announced later.
Currently, we expect the sukuk will be denominated in U.S.
dollars and will have a tenor of five years."
Hong Kong joins London and Luxembourg in seeking to boost
its Islamic finance credentials and attract more business from
cash-rich investors in the Gulf and southeast Asia.
Officials have previously said issuance size is expected to
be about US$500 million to US$1 billion. That would be larger
than the 200 million pounds ($332 million) raised by Britain in
June in the first sovereign sukuk issue from a Western country,
and the 200 million euros ($264 million) that Luxembourg plans
to raise in its debut issue as early as next month.
(Editing by Andrew Torchia)