LONDON, April 22 (IFR) - The Government of Dubai, which is unrated, has opened books for a new 15-year sukuk with initial profit thoughts of 5-5.125%.
The US-dollar denominated Islamic bond could price as early as today. The issuer is Dubai DOF Sukuk Ltd, with the Dubai government as obligor.
The bookrunners on the benchmark-sized sukuk are Dubai Islamic Bank, Emirates NBD Capital, HSBC, National Bank of Abu Dhabi and Standard Chartered. (Reporting by Sudip Roy; Editing by Alex Chambers)