DUBAI (Reuters) – Kuwait’s Burgan Bank has hired Citi and Standard Chartered (OTC:) to lead a planned sale of senior U.S. dollar-denominated six-year bonds, a bank document showed on Monday.

Bank ABC, Emirates NBD Capital and First Abu Dhabi Bank are also included in the transaction.

One of the banks provided a document indicating that the benchmark size of the unsecured bonds, usually at least $500,000,000, will be used. The bonds won’t be available for calls for five consecutive years.

Burgan Bank, which received initial approval by Kuwait’s central banking to issue $500 million of senior unsecured bond and the Capital Markets Authority last week.

Burgan’s Euro Medium Term Note Programme will issue the bonds. These bonds are likely to be issued with a fixed coupon rate of five years and then a floating rate in the final year. Should the bank decide to “call” them, they will not have to mature.

Burgan’s bond sales will be closed to “enhance long-term liquidity, regulatory liquidity ratios and liquidity levels,” the bank stated in an exchange filing.

Although senior bonds from the Gulf are not often sold, Burgan is following the lead of National Bank of Kuwait. This month, Burgan raised $1 billion through six-year senior bonds, non-callable over five years.