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Sharjah Islamic Bank to meet investors for potential dollar benchmark sukuk

Reuters

DUBAI, March 3 (Reuters) - Sharjah Islamic Bank is planning to meet fixed income investors starting Thursday ahead of a potential U.S. dollar benchmark sukuk issue, a document from lead arrangers showed.

The United Arab Emirates-based bank has picked Abu Dhabi Islamic Bank, Al Hilal Bank, Dubai Islamic Bank , Emirates NBD, HSBC, KFH Investment and Standard Chartered to arrange the sukuk sale, it showed.

Benchmark size is traditionally understood to mean upwards of $500 million.

Investor meetings will be held in Asia and Europe, and a transaction will follow subject to market conditions, as per the document.

(Reporting by Archana Narayanan; Editing by David French)