(Adds further details)
By Sudip Roy
LONDON, May 9 (IFR) - Qatar is eyeing its debut
international sukuk offering, according to sources. The Gulf
state has already sent request for proposals to banks, and is
close to being mandated. Sources believe it will choose a mix of
international and local banks.
While timing has yet to be decided, the transaction will
probably be in the second quarter, ahead of the summer break.
Other details, such as size and tenor, have also still be
agreed, though if Qatar's previous conventional deals are any
guide, the chances are the sukuk will be a multi-billion dollar
offering in more than one tenor.
Qatar is one of the most sought-after borrowers in the
world. Its last transaction, in late November, was a USD5bn,
Triple Tranche 144a/Reg S, which attracted a USD9.5bn order
book. HSBC, Citigroup, Mitsubishi UFJ, QNB Capital and Standard
Chartered were the leads on that deal.
(Reporting by Sudip Roy)