Halal Business Sukuk

First Abu Dhabi Bank plans to raise $750 million in Sukuk

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The lender is the first issuer in the Gulf to tap the international Sukuk market this year.

Wednesday 16, January 2019 BY KUDAKWASHE MUZORIWA

First Abu Dhabi Bank (FAB) is expected to raise $750 million in Islamic bonds, reported Reuters.

The five-year Sukuk offer buyers 130 basis points over mid-swaps, 20 basis points below the indicative price FAB proposed when it started marketing the notes.

FAB has mandated Dubai Islamic Bank, Emirates NBD Capital as well as First Abu Dhabi Bank, KFH Capital and NCB Capital Company to arrange the issuance.

Additionally, Sharjah Islamic Bank and Standard Chartered Bank have also been selected to arrange the issuance.

TAGS : FAB, Sukuk

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