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.

No pricing guidance was listed in the document.

Citi, DIB and Standard Chartered are the lead managers on the deal.

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