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|11 February, 2019

Bahrain's Mumtalakat hires banks for dollar sukuk

BNP Paribas, Citi, HSBC, National Bank of Bahrain and Standard Chartered Bank have been mandated as joint lead managers and joint bookrunners.

Traders monitor stocks from the trading floor at the Doha Securities Market building in Doha October 19, 2008. Image used for illustrative purpose

Traders monitor stocks from the trading floor at the Doha Securities Market building in Doha October 19, 2008. Image used for illustrative purpose

REUTERS/Fadi Al-Assaad

DUBAI - Bahrain's sovereign wealth fund Mumtalakat has hired banks to arrange fixed income investor metings ahead of a potential issue of five-year sukuk, or Islamic bonds, denominated in U.S. dollars, a document issued by one of the banks showed.

BNP Paribas, Citi, HSBC, National Bank of Bahrain and Standard Chartered Bank have been mandated as joint lead managers and joint bookrunners.

Subject to market conditions, the sukuk issue will be of benchmark size, which generally means upwards of $500 million.

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(Reporting by Davide Barbuscia; Editing by Alison Williams) ((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters Messaging: davide.barbuscia.reuters.com@reuters.net))

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