Turkish participation lender Albaraka Turk plans to complete a benchmark-sized sukuk issue with a five year lifespan on Monday, a document from lead arrangers said, with initial pricing thoughts for the deal announced.
The bank, a unit of Bahrain-based Al Baraka Banking Group, aims to price the transaction in the area of low 6 percent, the document said.
Benchmark sized is traditionally understood to mean in excess of $500 million.
Order books for the dollar-denominated deal are open. Emirates NBD, Nomura, Qinvest and Standard Chartered are arranging the transaction.
