DIFC Investments, the investment arm of Dubai's financial free zone, will complete sukuk issue of up to $700 million later on Tuesday, with price guidance tightened slightly from earlier indications, a document from lead managers showed.

The latest price guidance for the ten-year transaction was revised to 195 basis points plus or minus 5 bps over midswaps, the document showed, having been marked earlier on Monday at very low 200s over the same benchmark.

The offer, which is rated BBB- with a stable outlook by Standard & Poor's, has garnered orders worth $2.6 billion from investors. Books will close at 1100 GMT, the document added.

Dubai Islamic Bank, Emirates NBD, Noor Bank and Standard Chartered are arranging the sale, which is taking place after a series of roadshows with fixed income investors in Asia, the Middle East and Europe that were due to conclude on Monday. – Reuters