DUBAI - Qatar's Dukhan Bank is expected to sell $500 million in Additional Tier 1 (AT1) Islamic bonds, for which it has given the initial price guidance of around 4.375%, a document showed on Wednesday.
The size of the issuance will not grow, according to the document from one of the banks on the deal, which is expected to be launched later in the day.
AT1 bonds, the riskiest debt instruments banks can issue, are designed to be perpetual in nature but issuers can call them in after a specified period. Dukhan's sukuk will be non-callable for five-and-a-half years.
(Reporting by Yousef Saba; Editing by Jacqueline Wong) ((Yousef.Saba@thomsonreuters.com; +971562166204; https://twitter.com/YousefSaba))