February 20, 2019 / 8:27 AM / a year ago

Bahrain's Mumtalakat starts marketing dollar sukuk

DUBAI, Feb 20 (Reuters) - Bahrain’s sovereign wealth fund Mumtalakat started marketing its planned five-year U.S. dollar Islamic bonds, or sukuk, with an initial yield guidance of around 6.25 percent, a document issued by one of the banks leading the deal showed.

The sukuk, which is expected to price later on Wednesday, will be of benchmark size, which generally means upwards of $500 million.

BNP Paribas, Citi, HSBC, National Bank of Bahrain and Standard Chartered Bank have been hired to arrange the transaction.

Reporting by Davide Barbuscia; Editing by Mark Potter

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