Wednesday, Jun 29, 2011
(This story was originally published Tuesday)
DUBAI (Zawya Dow Jones)--Qatar's Almana Group, a multi-line holding company, has launched a five-year, U.S. dollar floating-rate Islamic bond, or sukuk, offering that's expected to be priced around mid-July, a lead manager on the issue said Tuesday.
"Issue size is to be determined with price guidance in the area of three month U.S. dollar Libor +450 basis points; issue price 100, with pricing expected in the near future," Gulf International Bank, who is the sole bookrunner and the joint lead manager of the offering, said in an emailed statement to Zawya Dow Jones.
Barwa Bank and Qatar Islamic Bank are the other lead managers on the offering. An application has been made to list the sukuk on the London Stock Exchange, the statement added.
"The bond was launched today and it mainly targets regional investors," a banker familiar with the deal told Zawya Dow Jones. One-on-one investor meetings are scheduled over the coming two weeks, he added.
-By Mirna Sleiman, Dow Jones Newswires; +9714 446-1698; mirna.sleiman@dowjones.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
29-06-11 0356GMT
