Ras al Khaimah launches $500 million five-year sukuk at mid-swaps plus 175 bps; pricing Tuesday

By Christine Van Dusen

Atlanta, Oct. 8 - The Emirate of Ras al Khaimah has launched its $500 million offering of five-year Islamic bonds at a spread of mid-swaps plus 175 basis points, a market source said.

Pricing is expected to take place on Tuesday.

The notes were talked at a spread in the mid-swaps plus 200 bps area.

Al Hilal Bank, Citigroup, Mashreqbank, National Bank of Abu Dhabi and Standard Chartered Bank are the bookrunners for the Regulation S deal.

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