Al Baraka Banking Group tightens price guidance for dollar sukuk

DUBAI

Bahrain’s Al Baraka Banking Group has tightened pricing guidance for its planned US dollar sukuk issue to the 8-8.125 per cent area, according to a document issued by one of the banks leading the deal on Tuesday.

Initial guidance was released earlier in the day in the low- to mid-8 per cent area.

Order books for the perpetual sukuk, expected to be of benchmark size, topped $1.25 billion, the document showed. The Islamic bond is expected to price later on Tuesday.