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UAE's Sharjah Islamic Bank launches $500 mln sukuk
April 9, 2013 / 11:03 AM / 5 years ago

UAE's Sharjah Islamic Bank launches $500 mln sukuk

DUBAI, April 9 (Reuters) - Sharjah Islamic Bank launched the sale of a $500 million sharia-compliant bond, or sukuk, on Tuesday at a profit rate of 2.95 percent, lead arrangers said.

Final pricing is due to follow later on Tuesday.

Abu Dhabi’s Al Hilal Bank, HSBC Holdings, Kuwait’s Liquidity Management House, a unit of Kuwait Finance House , and Standard Chartered Plc are mandated lead arrangers on the sukuk. (Reporting by Rachna Uppal; Editing by Dinesh Nair)

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