DUBAI May 23 Bahrain's Al Baraka Banking Group
has launched a $400 million Tier 1 sukuk with a 7.875
percent profit rate, a document issued by one of the banks
leading the deal showed on Tuesday.
Initial price guidance for the perpetual Islamic bond, which
is non callable for five years, was set in the low- to mid-8
percent area earlier on Tuesday.
Standard Chartered Bank is the global coordinator for the
transaction, joined as bookrunner by Bank ABC, Dubai Islamic
Bank, Emirates NBD Capital, KFH Capital, Noor Bank, and QInvest.
(Reporting by Davide Barbuscia; Editing by Susan Fenton)