Tamweel launches $300m 5-year sukuk

Dubai's Tamweel, a sharia-compliant mortgage provider, has launched a $300 million five-year Islamic bond, or sukuk, a document from lead managers said on Tuesday.

The transaction is guaranteed by majority shareholder Dubai Islamic Bank and follows a series of roadshows which took place before year-end.

Books are currently open, with pricing due to take place this week, the document said.