Equate Petrochemical will issue a USD750mn, seven-year sukuk early next week, company representatives told investors on Sunday during the first of a series of fixed income meetings ahead of the debt sale. The new paper, part of a USD2bn sukuk programme, is likely to offer about 180bps over midswaps, sources said, adding that the pricing would be very much in line with the company's existing debt curve. The sukuk proceeds will be used to refinance existing debt as the company aims to maintain its net debt to EBITDA ratio, which is currently 2.9x, said the sources. (Reuters)