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HSBC Middle East eyeing Islamic bonds

Bank is currently meeting investors in London and Far East and likely to issue 'sukuk' this week, says a business report

Reuters, Tuesday 24 May 2011
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HSBC Middle East, a subsidiary of the UK headquartered ban, will meet investors in Asia and Europe this week ahead of a potential Islamic bond, or sukuk, issue, IFR Markets reported.

Investor meetings will take place in Singapore, Kuala Lumpur, Hong Kong and London, and a sukuk issue is likely to price this week, IFR, a Thomson Reuters unit reported.

In October, HSBC Middle East raised $500 million from a five-year bond issue.

Last week, Sharjah Islamic Bank and Islamic Development Bank (IDB) both issued sukuk, opening up the regional Islamic bond market which has been subdued for months.

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