Abu Dhabi’s Tourism & Development Investment Company (TDIC) has started a roadshow for potential investors in an upcoming sukuk issue, according to bankers involved in the deal.

The roadshow started on 5 October in Abu Dhabi with Abu Dhabi Commercial Bank and the UK’s HSBC and Standard Chartered appointed to lead the transaction.

The roadshow will also visit investors in Europe and Asia. Bankers say the deal could raise up to $1bn.

The sukuk will be issued under the tourism firm’s $1.45bn sukuk programme, which has been rated AA by Standard & Poor’s, and Aa2 by Moody’s.

In June, the TDIC raised $1bn with a bond issue arranged by HSBC, France’s BNP Paribas and the US’ Citigroup. The deal was priced at 390 basis points above US treasuries.

The tourism company is behind several high profile developments in Abu Dhabi, including the Guggenheim Abu Dhabi and the Louvre Abu Dhabi.