February 23, 2016 / 5:26 AM / 4 years ago

Islamic Development Bank to start roadshows on Sunday for dollar sukuk -leads

DUBAI, Feb 23 (Reuters) - Islamic Development Bank (IDB) will start roadshows from Sunday for a potential dollar-denominated sukuk issue for the Jeddah-based supranational institution, a document from lead arrangers showed on Tuesday.

The AAA-rated IDB has picked Boubyan Bank, CIMB, Emirates NBD Capital, Gulf International Bank, JP Morgan, Natixis and Standard Chartered Bank to arrange the transaction, the document showed.

Investor meetings will start on Sunday in Riyadh before moving to Kuala Lampur on Tuesday and concluding in the United Arab Emirates on Wednesday.

Benchmark size is usually understood to be upwards of $500 million.

Reuters reported earlier in February that IDB had mandated banks for a potential sukuk offering. (Reporting by Archana Narayanan; editing by Matt Smith)

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