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ADCB raises $500mln in dollar-denominated Sukuk

Posted on 18 November 2011

Abu Dhabi Commercial Bank, one of the largest commercial banks of the UAE, has raised $500 million (Dh1.8 billion) via five-year, dollar-denominated Islamic bonds, or sukuk, at 275 basis points over mid swaps, two bankers familiar with the deal said.

“It went to a very broad base of investors across Asia, Europe, and the Middle East,” one banker, who declined to be identified, said. The lender, in an emailed statement, confirmed it has priced its maiden five-year, $500 million sukuk transaction that carries a profit rate of 4.071 per cent………………………………………Full Article: Source

 
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