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World Bank-linked IFFI picks banks for debut sukuk issue

Reuters - UK Focus

DUBAI, Sept 11 (Reuters) - The International Finance Facility for Immunisation Co. (IFFI), for which the World Bank acts as treasury manager, has picked four banks for a potential U.S. dollar-denominated sukuk, a document from lead managers showed on Thursday.

Rated AA by Standard (Other OTC: SNDH - news) and Poor's and AA+ by Fitch, IFFI has mandated Qatar's Barwa Bank, National Bank (NYSE: NBHC - news) of Abu Dhabi , the investment banking arm of Saudi Arabia's National Commercial Bank, and Standard Chartered (HKSE: 2888.HK - news) to arrange investor meetings in the Middle East, Europe and Asia.

A potential sukuk offer may follow the roadshows - for which a schedule was not given in the document - subject to market conditions before the end of the year. (Reporting by Archana Narayanan; Editing by David French)