Sharjah Islamic Bank plans benchmark dollar sukuk issue

Dubai: Sharjah Islamic Bank will begin investor meetings on August 29 for a potential benchmark US dollar-denominated sukuk issue, the lender said on Wednesday.

The meetings will be held in Asia and Europe, the bank said in a bourse statement, adding that the issue would be subject to market conditions. Benchmark usually means at least $500 million (Dh1.83 billion) in size.

Bank ABC, Dubai Islamic Bank, Emirates NBD Capital, HSBC, KFH Capital, Maybank, Noor Bank, QNB Capital and Standard Chartered will arrange the meetings.