02 October 2013
DUBAI: Abu Dhabi government-owned Al Hilal Bank priced its debut $500m five-year sukuk issue, a document from lead managers said yesterday, as Gulf issuers flood back to the market to take advantage of conducive market conditions.
DUBAI: Abu Dhabi government-owned Al Hilal Bank priced its debut $500m five-year sukuk issue, a document from lead managers said yesterday, as Gulf issuers flood back to the market to take advantage of conducive market conditions.
The transaction priced at par with a profit rate of 3.267 percent and a spread of 170 basis points over midswaps, the document said. The spread had tightened significantly from the initial price thoughts, released on Sunday, which had indicated a spread of 190 bps over the benchmark.
© The Peninsula 2013
