In what is a clear case of prostitution to attract Islamic petrodollars, Hong Kong is issuing another Sukuk…
Hong Kong SAR has set final price guidance at US Treasuries plus 25bp area (plus or minus 2bp) for a US dollar five-year sukuk, according to a lead manager.
The new price compares with initial guidance of Treasuries plus 30bp area released this morning.
The size of the deal, which is expected to price later today, will be capped at US$1bn.
HSBC, Standard Chartered, CIMB and National Bank of Abu Dhabi are the joint bookrunners.
Hong Kong is rated Aa1 by Moody’s, AAA by Standard & Poor’s and AA+ by Fitch.