Abu Dhabi’s top bank follows Dubai rival to dollar bond market
Published 07 Jan,2021 via Bloomberg Markets - First Abu Dhabi Bank PJSC followed its Dubai rival to the debt market by starting to market dollar-denominated Islamic bonds on Thursday.
Abu Dhabi’s biggest lender opened books on a $500 million five-year sukuk, setting initial price guidance at between 100 and 105 basis points over midswaps, according to a person familiar with the matter, who asked not to be identified because the matter is private. A senior unsecured debt sale is expected to be closed on Thursday.
Dubai Islamic Bank PJSC, Emirates NBD Capital, First Abu Dhabi Bank PJSC, Islamic Corporation for the Development of the Private Sector, KFH Capital KSCP, NCB Capital and Standard Chartered Bank are the joint lead managers for the sale.
Free, in under 30 seconds
Join thousands of professionals reading Salaam Gateway — the Global Islamic Economy Gateway.
Already a member? Sign in
- 5 free articles every month
- Weekly Islamic-economy newsletter
- Save articles to read later
Archana Narayanan