DUBAI - Kuwait's Boubyan Bank plans to sell $750 million in five-year sukuk, or Islamic bonds, at 120 basis points (bps) over mid-swaps, a document showed on Tuesday.

The debt sale, which is expected to close later on Tuesday, garnered over $4.3 billion in orders, the document by one of the banks arranging the deal said.

Boubyan Bank began marketing the notes at around 150 bps over mid-swaps earlier on Tuesday.

HSBC and Standard Chartered were hired as joint global coordinators for the deal. Bank ABC, Boubyan Capital, First Abu Dhabi Bank, Islamic Corporation for the Development of the Private Sector, KFH Capital, Kuwait International Bank and Warba Bank are also involved in arranging the deal.

The deal follows a series of banks' debt deals in the region, as lenders tap investors despite uncertainty surrounding the new coronavirus outbreak. 

Dubai's largest bank Emirates NBD raised $500 million in bonds on Monday, and Saudi Arabia's Riyad Bank announced on Tuesday plans to issue dollar sukuk.

(Reporting by Yousef Saba, editing by Davide Barbuscia and Louise Heavens) ((Yousef.Saba@thomsonreuters.com; +971562166204))