EIB inches closer to a fresh sukuk issuance: Emirates Islamic Bank (EIB) tapped a group of banks to arrange a USD-denominated, Regulation S, five-year fixed-rate sukuk under its USD 4 bn certificate issuance program, Zawya reported. The sukuk, which will be senior unsecured, is set to be listed on Nasdaq Dubai and Euronext.

What’s next? The banks will be responsible for managing and overseeing the sukuk issuance. Their duties include marketing the sukuk to investors, determining its pricing, underwriting the issuance to ensure it is fully placed, and distributing it to both institutional and retail investors.

ADVISORS- The enlisted banks serving as joint lead managers and joint bookrunners include our friends at Mashreq and HSBC, as well as Dubai Islamic Bank, Emirates NBD Capital, Sharjah Islamic Bank, and Standard Chartered.

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