Banque Saudi Fransi has mandated Citi, Deutsche Bank and Credit Agricole to arrange global fixed income meetings starting May 7, the arranging banks said in an announcement Wednesday. A benchmark dollar-denominated Islamic bond, or sukuk, may follow subject to market conditions. Benchmark is usually understood to mean at least $500 million. Roadshows begin in Riyadh May 7, and will cover the UAE, Singapore and Kuala Lumpur before ending in London May 11. Any potential issue will fall under the bank's newly-established $2 billion sukuk program.
