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Dubai mandates four lenders for sukuk issue
- United Arab Emirates: Tuesday, January 22 - 2013 at 06:25
Four banks have been selected by the government of Dubai for a potential Islamic bond, as the emirate seeks to benefit from its lowest borrowing costs since a crippling debt crisis in 2009, Reuters has reported, citing four sources familiar with the matter. The emirate has picked Dubai Islamic Bank, HSBC, National Bank of Abu Dhabi and Standard Chartered to arrange the potential new sale, the sources said. Three of the sources indicated the new issue could be announced today, and two sources said the borrower was looking to raise at least $1bn from the sale.
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