DUBAI - Qatar's Dukhan Bank has hired Standard Chartered as global coordinator for a planned sale of U.S. dollar-denominated Additional Tier 1 Islamic bonds, a document showed on Monday.
Citi, Credit Suisse, JPMorgan, KFH Capital, QInvest, QNB Capital and Societe Generale will join Standard Chartered in arranging investor calls starting on Monday, the document from one of the banks showed.
An offering of unrated fixed rate resettable AT1 sukuk will follow, subject to market conditions.
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 Alex Richardson) ((Yousef.Saba@thomsonreuters.com; +971562166204; https://twitter.com/YousefSaba))