Sharjah Islamic Bank To Meet Investors For Potential Sukuk

Sharjah Islamic Bank is planning to meet fixed income investors starting Thursday ahead of a potential U.S. dollar benchmark sukuk issue, a document from lead arrangers showed.

The United Arab Emirates-based bank has picked Abu Dhabi Islamic Bank, Al Hilal Bank, Dubai Islamic Bank, Emirates NBD, HSBC, KFH Investment and Standard Chartered to arrange the sukuk sale, it showed.

Benchmark size is traditionally understood to mean upwards of $500 million.

Investor meetings will be held in Asia and Europe, and a transaction will follow subject to market conditions, as per the document.