DUBAI: Dubai Islamic Bank, the United Arab Emirates' largest Islamic lender, gave initial price guidance of around 120 basis points over US Treasuries for five-year dollar-denominated Islamic bonds, a document showed on Tuesday.

The sukuk are expected to launch later on Tuesday, the document from one of the banks on the deal showed.

Gulf markets mixed, Egypt sheds over 1pc

Bank ABC, Dubai Islamic Bank, Emirates NBD Capital , First Abu Dhabi Bank, KFH Capital, HSBC, Sharjah Islamic Bank, Standard Chartered and The Islamic Corporation for the Development of the Private Sector are arranging the deal.