Abu Dhabi Islamic Bank (ADIB), which on Thursday priced a $750 million Islamic bond, or sukuk, said the issue was over-subscribed 4.8 times with strong demand from Middle East, Europe and Asia.
The five-year debut issue under ADIB's $5 billion sukuk programme updated in July attracted orders of $3.6 billion, a statement from the lender said on Sunday. It pays a coupon of 3.745 percent.
ADIB mandated Barclays Capital, HSBC and Standard Chartered as bookrunners for the sukuk. Kuwait's Liquidity Management House and Nomura were co-leads, the statement said. In September, Qatar Islamic Bank priced its five-year sukuk at a spread of 237.5 basis points over midswaps, with a fixed coupon of 3.856 percent.
Comments
Comments are closed.