October 20, 2015 / 6:51 AM / 4 years ago

Qatar Islamic Bank opens books for 5-yr benchmark dollar sukuk -leads

DUBAI, Oct 20 (Reuters) - Qatar Islamic Bank has opened order books for a five-year benchmark dollar-denominated sukuk issue, a document from lead arrangers showed on Tuesday.

The initial price guidance for the offering has been set in the area of 145 basis points over midswaps, the document showed.

The bank has mandated Barwa Bank, Citi, HSBC, Noor Bank, QInvest and Standard Chartered as joint lead managers for the issue. The sukuk issue will be under Qatar Islamic’s existing $1.5 billion Trust Certificate Issuance Programme.

Benchmark usually means at least $500 million. (Reporting by Archana Narayanan. Editing by Nadia Saleem)

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