Qatar's Ezdan Holding prices $500 mln debut five-yr sukuk - leads

DUBAI, May 11 (Reuters) - Qatar’s Ezdan Holding has priced a $500 million five-year sukuk issue, a document from lead managers said on Wednesday, in the firm’s debut international debt sale.

The wakala-structured transaction carries a profit rate of 4.375 percent, equivalent to a spread over midswaps of 333 basis points, the document said. The reoffer price was 99.446 percent.

Under a wakala structure, a portfolio of sharia-compliant assets is managed on behalf of the sukuk certificate holders.

The firm, a real estate developer and investment firm founded and chaired by members of the ruling al-Thani family, had released pricing guidance on Tuesday in the area of low-to-mid-300s over the same benchmark.

This was then focused on the area of 337.5 bps over midswaps earlier on Wednesday, according to a separate update from lead arrangers.

Barwa Bank, Emirates NBD Capital, HSBC and Mashreq arranged the transaction and were joined in a bookrunner capacity by Abu Dhabi Islamic Bank before its close, the document added. (Reporting by Sudip Roy; Writing by David French; Editing by Ruth Pitchford)