Wednesday, Oct 27, 2010
NEW YORK (Dow Jones)--Abu Dhabi Islamic Bank, or ADIB, the emirate's largest Islamic lender by market value, set guidance on a five-year benchmark Islamic bond, or sukuk, expected to sell Thursday, according to a person close to the deal.
The notes are seen pricing at 235 basis points over Midswaps, said the source.
Barclays Capital, HSBC and Standard Chartered are bookrunners on the deal.
Company officials, who have been on a series of investor meetings in Asia, Europe and the Middle East since Oct. 20, completed their road show Tuesday.
The bank is rated A2 by Moody's Investors Service and A+ by Fitch Ratings.
-By Riva Froymovich, Dow Jones Newswires; 212-416-2217; riva.froymovich@dowjones.com
(END) Dow Jones Newswires
27-10-10 1556GMT
