DUBAI - Abu Dhabi Islamic Bank, the largest sharia-compliant lender in Abu Dhabi, has given an initial price guidance in the region of 7.5 percent for a planned perpetual dollar sukuk sale, according to a document issued by one of the banks leading the deal.
The sukuk, or Islamic bonds, will be of benchmark size, which generally means upwards of $500 million.
The Additional Tier 1 bonds, non-callable for a five-year period, are expected to price later on Wednesday. Abu Dhabi Islamic Bank, HSBC and JPMorgan are coordinating the deal.
(Reporting by Davide Barbuscia; Editing by Sunil Nair) ((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters Messaging: email@example.com))