DUBAI May 23 Bahrain's Al Baraka Banking Group
has received orders in excess of $1 billion for its planned U.S.
dollar-denominated sukuk, a document issued by one of the banks
leading the deal showed on Tuesday.
The perpetual Tier 1 Islamic bond, non callable for five
years, is of benchmark size, which usually means upwards of $500
million. The sukuk is being marketed with a price guidance in
the low to mid 8 percent area and will price later on Tuesday.
Standard Chartered Bank is coordinating the issuance, and is
joined as a bookrunner by Bank ABC, Dubai Islamic Bank, Emirates
NBD Capital, KFH Capital, Noor Bank, and QInvest.
(Reporting by Davide Barbuscia; Editing by Susan Fenton)