Bahrain Appoints Banks to Arrange Dollar Sukuk and Bond Issuance

A banking document revealed today, Wednesday, that China has appointed a group of banks to arrange communications with investors ahead of a planned issuance of dollar-denominated sukuk, which will include a tranche of Islamic bonds in addition to conventional bonds. The document from one of the banks stated that "ABC," "Citi," "First Abu Dhabi," "HSBC," "JP Morgan," "National Bahrain," and "Standard Chartered" would arrange communications with investors today, Wednesday. It noted that "a sale of sukuk with a maturity of more than seven years and conventional bonds with a maturity of 12 years is likely to follow, depending on market conditions."