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|17 October, 2018

Dubai-listed Tabreed hires banks for dollar sukuk

Tabreed has hired banks to arrange fixed income meetings ahead of a planned sale of U.S. dollar-denominated sukuk, or Islamic bonds

National Central Cooling Company PJSC (Tabreed),Dubai Plant on Shk. Zayed Road

National Central Cooling Company PJSC (Tabreed),Dubai Plant on Shk. Zayed Road

Tabreed/Handout via Thomson Reuters Zawya

DUBAI  - Dubai-listed National Central Cooling Co (Tabreed) has hired banks to arrange fixed income meetings ahead of a planned sale of U.S. dollar-denominated sukuk, or Islamic bonds, according to documents reviewed by Reuters.

The company has hired Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, JPMorgan and Mashreq Bank as joint lead managers to arrange meetings in Europe, Asia and the Middle East starting on Oct. 19.

Tabreed plans to issue benchmark-sized sukuk, which generally means upwards of $500 million, with a seven-year maturity.

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(Reporting by Davide Barbuscia; editing by Jason Neely) ((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters Messaging: davide.barbuscia.reuters.com@reuters.net))