July 19, 2011 / 11:35 AM / 8 years ago

UAE's FGB picks banks for roadshows ahead of potential sukuk

DUBAI, July 19 (Reuters) - Abu Dhabi’s First Gulf Bank has mandated Citi , HSBC and Standard Chartered to arrange investors meetings starting July 21 after which the lender could issue an Islamic bond, or sukuk, lead arrangers said on Tuesday.

Meetings kick off in Kuala Lumpur on Thursday and conclude the following 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 Rachna Uppal, Editing by Dinesh Nair)

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