Road shows underway for Sukuk bonds

DUBAI: In a bid to invite interest from investors in 500 million dollars worth of Sukuk bonds, the government has begun a road show in Dubai.

According to sources, after Dubai road shows will be held at the London and Singapore Stock Exchange.

Sources at the finance ministry have confirmed that four banks have been engaged as financial advisors for the process. The bas engaged include, Deutsche Bank, Citi group, Standard Chartered and Dubai Islamic Bank.

The government is offering five year bonds at an interest rate of 6.75% while 1 billion dollars worth of ten year bonds will offered at 7.75% interest rate.