Dubai's Noor Bank to meet investors ahead of dollar sukuk

Noor Bank will start meeting investors on April 6 ahead of a potential benchmark five-year U.S. dollar-denominated sukuk issue

  
Noor Bank’s Head Office picture at Emaar Square.

Noor Bank’s Head Office picture at Emaar Square.

Noor Bank/ / Handout via Thomson Reuters Projects

DUBAI - Noor Bank will start meeting investors on April 6 ahead of a potential benchmark five-year U.S. dollar-denominated sukuk issue, a document from one of the banks hired to set up the meetings showed on Thursday.

Benchmark bonds are generally $500 million or more.

Noor Bank has appointed, Deutsche Bank and Standard Chartered Bank as global coordinators along with Dubai Islamic Bank, Emirates NBD Capital, Noor Bank, Sharjah Islamic Bank and Warba Bank as joint lead managers and bookrunners to arrange the meetings, which will take place in the Middle East, Asia and Europe.

The planned sukuk offering would be part of Noor Bank's existing $3 billion sukuk issuance programme.

Noor Bank is rated A-(minus) by Fitch.

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

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