January 22, 2013 / 10:59 AM / 5 years ago

Dubai sets Dubai guidance at 4% area on 10-year sukuk - source

LONDON, Jan 22 (IFR) - The Emirate of Dubai has put out official price guidance of 4% area on its 10-year USD benchmark-sized sukuk, according to a source, from price talk of low 4%.

Order books on the deal have already exceeded USD9bn, the source said.

Books are set to go subject in Middle East and Asia at 11.00GMT, and in London at 12.00GMT.

Dubai Islamic Bank, Emirates NBD, HSBC, NBAD and Standard Chartered are managing the deal, which should price later today. Dubai is unrated. (Reporting By Abhinav Ramnarayan; Editing by Sudip Roy)

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