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United Arab Emirates' Rakia releases talk of Treasuries plus 150 bps for its five-year benchmark sukuk
By Aaron Hochman-Zimmerman
New York, Nov. 15 - Ras Al Khaimah Investment Authority has announced talk of 150 basis points over Treasuries for its five-year benchmark sukuk, according to a source close to the deal.
Credit Suisse, HSBC, and NBD Investment Bank will act as bookrunners for the debut dollar-denominated senior sukuk.
Because of a holiday in the United Arab Emirates, pricing is expected early next week.
The offer will be guaranteed by the government of Ras Al Khaimah.
Rakia is an investment company based in the Ras Al Khaimah, United Arab Emirates.
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