Bahrain's nogaholding plans dollar sukuk due in 7 or 10 years - document

Bahrain's nogaholding has hired banks to arrange a sale of benchmark-size Islamic bonds denominated in U.S. dollars with a tenor of seven or 10 years, a bank document showed on Monday. Bank ABC, Citi, FAB, HSBC, JP Morgan & National Bank of Bahrain will arrange investor calls, including a global investor call on Monday, the document on the planned debt sale showed.

Earlier on Monday, nogaholding made a tender offer to buy back existing bonds due next year for cash, conditional on the new debt issuance.