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Bahrain's Al Baraka Banking sets final price guidance for dollar sukuk - lead
May 23, 2017 / 12:47 PM / 7 months ago

Bahrain's Al Baraka Banking sets final price guidance for dollar sukuk - lead

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

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