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Bahrain's Mumtalakat set to raise $600 mln in sukuk

Reuters - UK Focus

DUBAI, Feb 20 (Reuters) - Bahrain's sovereign wealth fund Mumtalakat is set to raise $600 million in sukuk, or Islamic bonds, with a 5.625 percent yield, a document issued by one of the banks leading the deal showed.

Mumtalakat started marketing the notes earlier on Wednesday with an initial price guidance of around 6.25 percent. The sukuk sale obtained orders of around $4 billion.

BNP Paribas (LSE: 0HB5.L - news) , Citi, HSBC, National Bank of Bahrain and Standard Chartered Bank have been hired to arrange the transaction. (Reporting by Davide Barbuscia; Ediitng by Mark Potter)