May 16, 2017 / 6:10 AM / 3 months ago

Qatar Islamic Bank gives initial price guidance for dollar sukuk - lead

DUBAI, May 16 (Reuters) - Qatar Islamic Bank (QIB), the Gulf state’s largest Islamic lender by assets, has given an initial price guidance of 145-155 basis points over mid-swaps for its planned five-year dollar sukuk, a document issued by one of the leading banks and seen by Reuters showed on Tuesday.

The Regulation S, senior unsecured deal, part of a $3 billion sukuk programme, is expected to be of benchmark size, which usually means upwards of $500 million.

Citi, Emirates NBD Capital, HSBC, Noor Bank, QInvest and Standard Chartered Bank have been appointed to lead the transaction, which is expected to price later on Tuesday. QIB is rated A1 by Moody’s, A- by S&P and A+ by Fitch. (Reporting by Davide Barbuscia; Editing by Mark Potter)

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