U.K. Picks HSBC for Sukuk Debut as Early as This Year
This article is for subscribers only.
The U.K. has chosen HSBC Holdings Plc to arrange and advise on its debut Islamic bond planned for this year or the next in an effort to become the first non-Muslim nation to sell the debt.
Other banks will be mandated closer to the time of the sale, which is expected to take the form of a syndicated offering, the Treasury said in an e-mailed statement today. Linklaters LLP will provide legal advice for the Islamic bond, or sukuk, including tax and real estate implications, according to the statement.