Bahrain’s Ahli United Bank gives initial guidance for dollar sukuk — document

The deal will be of benchmark size, which typically means at least $500 million. (Supplied)

• Bank as given an initial price guidance of around 200 basis points over mid-swaps for five-year US dollar-denominated senior Islamic bonds

MANAMA: Bahrain-headquartered Ahli United Bank has given an initial price guidance of around 200 basis points over mid-swaps for five-year US dollar-denominated senior Islamic bonds, a document showed on Thursday.

HSBC and JPMorgan are joint global coordinators. Bank ABC, Dubai Islamic Bank, Kamco Invest, KFH Capital, Kuwait International Bank and Mashreq are joint lead managers, the document from one of the banks reviewed by Reuters showed.

The deal, expected to launch later on Thursday, will be of benchmark size, which typically means at least $500 million.