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HSBC Middle East sells Islamic bond worth $500m

HSBC Middle East has priced a $500m Islamic bond at 155 basis points above midswaps, carrying a maturity of five years, Reuters has reported. Banks constituted 61% of orders by investor type, while orders were divided 55% and 45% by conventional and Islamic investors, respectively. HSBC Middle East held roadshows last week in Asia, the Middle East and London to gauge sentiment for a five-year Sukuk.