DUBAI, (Reuters) – Early price talk for a five-year $300 million Islamic bond issue from mortgage lender Tamweel is in the area of 400 basis points over midswaps, two sources said on Wednesday.

The Islamic bond, or sukuk, will be fully guaranteed by Dubai Islamic Bank (DIB), Tamweel’s majority shareholder.

Citi, DIB and Standard Chartered are the lead managers on the deal, which is expected to price this week.