Bahraini Fund Mumtalakat To Price Benchmark-Sized Sukuk On Tuesday

Bahrain sovereign fund Mumtalakat is aiming to price an Islamic bond issue of benchmark size and seven years duration on Tuesday, a document from lead arrangers said.

Price indications have yet to be confirmed, the document said on Monday. Benchmark size is typically understood to mean upwards of $500 million.

A series of meetings with fixed income investors is set to conclude on Monday in London, having been hosted in Asia and the Middle East last week, arranged by BNP Paribas, Deutsche Bank, Mitsubishi UFJ Financial Group and Standard Chartered.