Emirates Islamic Bank starts selling sustainability sukuk, document says

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The initial price guidance for the sustainability debt sale has been placed at around 130 basis points over U.S. Treasuries

Shamsuddin Mohd, Reuters News

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Emirates Islamic Bank, the Islamic arm of Dubai's biggest lender Emirates NBD, has started selling 5-year Islamic bonds, or sukuk, a document seen by Reuters showed on Tuesday.

The initial price guidance for the sustainability debt sale has been placed at around 130 basis points over U.S. Treasuries, the document said.

The deal is reported to be benchmark in size, typically understood to be at least $500 million, which will be issued under the bank's $2.5 billion certificate issuance programme, the document added.

(Reporting by Shamsuddin Mohd; Editing by Sonali Paul)

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