July 15, 2019 / 10:27 AM / a month ago

Emirates Strategic Investments Co readies debut dollar sukuk sale

DUBAI, July 15 (Reuters) - Emirates Strategic Investments Co, a firm owned by Sheikh Mansour Bin Zayed Al Nahyan, a member of the royal family of Abu Dhabi, has hired banks to arrange investor meetings ahead of a debut U.S. dollar-denominated sukuk issuance, a document showed.

The company, which has a portfolio of assets across different sectors in the United Arab Emirates, has hired Standard Chartered and First Abu Dhabi Bank as coordinators for the planned five-year Islamic bond sale, according to the document issued by one of the leading banks.

The company is rated Baa3 by rating agency Moody’s.

The two lenders have also been mandated as joint lead managers along with Bank ABC, Dubai Islamic Bank , Emirates NBD Capital, National Bank of Bahrain, and Warba Bank. (Reporting by Davide Barbuscia; Editing by Saeed Azhar)

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