Abu Dhabi, UAE: Abu Dhabi Islamic Bank (ADIB), a leading financial institution, announced that it has successfully completed the planned redemption of its USD 750 million additional tier-one (AT1) perpetual sukuk on the first call date, September 20, 2023.
These sukuks were issued on 20 September 2018 at a profit rate of 7.125 percent and were fully redeemed at the trustee call amount, equal to the prevailing face amount of the certificates plus any outstanding payments as of September 20, 2023. Upon redemption of the certificates, the trading of the certificates on the regulated market of the Irish Stock Exchange was cancelled.
In July 2023, ADIB successfully raised another $750 million additional tier-one (AT1) perpetual sukuk maintaining the Group’s optimized capital structure and its strong CET1 position.
ADIB, which is rated A2 by Moody’s and A+ by Fitch, in each case with a stable outlook, priced the new perpetual non-call, five and half-year sukuk at a profit rate of 7.25 percent per annum payable semi-annually. The recent sukuk are listed and traded on the London Stock Exchange.
The recent issuance was met with exceptional demand, attracting interest from over 240 global and regional investors with the final order exceeding USD 7 billion more than 9 times over-subscribed and final pricing 62.5 bps tighter than the initial pricing thoughts.
ADIB is a leading bank in the UAE with more than AED 182 billion in assets. The bank also offers world-class online, mobile and phone banking services, providing clients with seamless digital access to their accounts 24 hours a day. ADIB provides retail, corporate, business, private banking and wealth management solutions. The bank was established in 1997 and its shares are traded on the Abu Dhabi Securities Exchange (ADX).
ADIB has a strong presence in six strategic markets: Egypt, where it has 70 branches, the Kingdom of Saudi Arabia, the United Kingdom, Sudan, Qatar and Iraq.
Named World’s Best Islamic Bank by The Financial Times’ The Banker publication, ADIB has a rich track record of innovation, including introducing the award-winning Ghina savings account, award-winning co-branded cards with Emirates airlines, Etihad and Etisalat and a wide range of financing products.
For media information, please visit www.adib.ae or contact:
Lamia Khaled Hariz
Head of Corporate Communications,
Marketing , ESG and Investor Relations
Direct: +971 2 6927427
Head of Middle East