1 Min Read
DUBAI, May 23 (Reuters) - Bahrain's Al Baraka Banking Group has set the final price guidance for its planned U.S. dollar-denominated sukuk issue at 7.9 percent, with the Islamic paper expected to price in the range of 2.5 basis points above or below that figure, a document issued by one of the lead banks showed on Tuesday.
Initial price guidance was released earlier in the day in the low- to mid-8 percent, before tightening to the 8-8.125 percent area later on Tuesday.
The perpetual sukuk, non callable for five years, has received orders of more than $1.6 billion, but the final size of the transaction is expected to be $400 million, the document showed.
Reporting by Davide Barbuscia; Editing by Susan Fenton