Bahrain's Ahli United Bank launches $600mln senior sukuk

The sukuk will price in the range of 175-180 basis points (bps) over mid-swaps

  
A customer walks out from the main entrance to Ahli United Bank's headquarters in Manama October 30, 2013.

A customer walks out from the main entrance to Ahli United Bank's headquarters in Manama October 30, 2013.

REUTERS/Hamad I Mohammed

DUBAI- 

Bahrain-headquartered Ahli United Bank sold $600 million in five-year sukuk, or Islamic bonds, at 175 basis points over mid-swaps, a document showed on Thursday.

The spread was tightened from initial price guidance of around 200 basis points over mid-swaps after the sukuk drew more than $1.3 billion in orders, the document from one of the banks on the deal reviewed by Reuters showed.

Bank ABC, HSBC, Dubai Islamic Bank, JPMorgan, Kamco Invest, KFH Capital, Kuwait International Bank and Mashreq are arranging the deal.

(Reporting by Yousef Saba; Editing by Uttaresh.V and Edmund Blair) ((Yousef.Saba@thomsonreuters.com; +971562166204; https://twitter.com/YousefSaba))


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