UAE’s NMC Health prepares dollar sukuk

(Adds details from document)

By Davide Barbuscia and Stanley Carvalho

DUBAI, Nov 7 (Reuters) - United Arab Emirates' healthcare provider NMC Health (LSE: NMC.L - news) plans to issue U.S. dollar-denominated sukuk, or Islamic bonds, a document issued by one of the banks leading the deal showed on Wednesday, confirming what sources told Reuters earlier.

London-listed NMC (Brussels: BE0035966762.BR - news) has hired HSBC and Standard Chartered Bank to coordinate a series of meetings with fixed income investors ahead of the planned deal, which will be a five-year benchmark bond.

Benchmark issues are generally meant to be worth upwards of $500 million.

The two banks have also been hired as joint lead managers together with Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Bank ABC, Barclays (LSE: BARC.L - news) , Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank and Noor Bank.

Company representatives will start meeting investors on Nov 11, according to the document.

When asked about the company's plan to issue dollar bonds earlier on Wednesday, an NMC spokesman said that the company does not comment on market speculation.

NMC, which is among the beneficiaries from recent growth in the Gulf's healthcare sector, was included in the FTSE 100 index last year.

It raised a $2 billion loan earlier this year provided by a consortium of banks including Citi, JPMorgan (LSE: JPIU.L - news) and Standard Chartered, sources said at the time. (Reporting by Davide Barbuscia and Stanley Carvalho; editing by Louise Heavens and Hugh Lawson)