September 12, 2018 / 6:23 AM / 9 days ago

S.Arabia starts marketing dollar sukuk, targets $2 bln -document

DUBAI, Sept 12 (Reuters) - Saudi Arabia has started marketing a U.S. dollar-denominated sukuk, or Islamic bond with the issue expected to be around $2 billion in size, a document showed on Wednesday.

It would be the kingdom’s second international sale of sukuk after a $9 billion transaction last year.

The bonds, with a Mudaraba-Murabaha structure and an 11-year maturity, are being marketed with an initial price guidance of around 145 basis points over mid-swaps, the document showed. (Reporting by Davide Barbuscia; editing by Jason Neely)

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