UAE lender First Gulf Bank raised $650 million from the sale of five-year Islamic bonds, or sukuk, on Tuesday, in a significantly oversubscribed deal that benefited from solid global demand for Sharia-compliant paper.
The sukuk priced at 200 basis points over five-year midswaps, in line with earlier guidance, offering a profit rate — equivalent to a coupon — of 3.797 per cent, two sources involved in the deal said……………………………………….Full Article: Source