UAE's Ras Al Khaimah picks banks for potential sukuk issue -leads

Reuters

DUBAI, Sept 30 (Reuters) - The emirate of Ras al Khaimah,one of the seven members of the United Arab Emirates, has pickedfive banks to arrange a series of meetings with fixed incomeinvestors ahead of a possible Islamic bond issue, lead managerssaid on Monday.

RAK, through its Investment and Development Office, willhold roadshows beginning on Wednesday, with a U.S.dollar-denominated sukuk issue following subject to marketconditions, the document from leads said.

Abu Dhabi-based Al Hilal Bank, Citigroup, Dubai'sMashreq, National Bank of Abu Dhabi andStandard Chartered have been chosen to arrange themeetings, which will take place in Singapore, Kuala Lumpur, theUAE and London.

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