IslamicFinance.de

Qatar’s Masraf Al Rayan is eyeing a debut in the debt capital markets this year after inviting bankers to pitch for arranger roles on a potential U.S. dollar-denominated benchmark sukuk issue, sources said on Monday. The sharia-compliant institution is expected to raise funds before end-April. Masraf Al Rayan is “very close” to mandating arrangers for the upcoming sukuk issue, two sources said. Masraf Al Rayan joins a growing pipeline of potential Gulf issuance as borrowers want to obtain funds from the dollar debt markets before a possible increase in interest rates by the U.S. Federal Reserve later this year.