Dubai eyes new sukuk issue, may raise at least $1bn

January 21, 2013 - 2:43:27 pm
DUBAI: The government of Dubai has mandated four banks for a potential Islamic bond, or sukuk, issue, four sources familiar with the matter said on Monday.
The government, which last tapped global debt markets in April with a $1.25 billion two-tranche sukuk, has picked Dubai Islamic Bank, HSBC, National Bank of Abu Dhabi and Standard Chartered Plc.
Three sources said the new issue could be announced as early as Tuesday this week, and two sources said the borrower was looking to raise at least $1 billion from the sale. (Reuters)