Dubai-listed Mashreqbank has hired banks for the sale of dollar-denominated perpetual non-callable for 5.5-year additional tier notes, an arranging bank document showed on Wednesday.

The Dubai lender has selected Abu Dhabi Commercial Bank , Al Ahli Bank of Kuwait (DIFC Branch), BofA Securities, Citi, Emirates NBD Capital, First Abu Dhabi Bank, Kamco Investment Company, Mashreq and Mizuho as joint lead managers and joint bookrunners, the document said.

The debt transaction is reported to be benchmark-sized, which is typically understood to be at least $500 million.

Investor meetings for the planned debt sale are scheduled to take place starting May 30, the document added. (Reporting by Mohammad Edrees; Editing by Sonali Paul)