First Gulf Bank (FGB) received excellent investor endorsement through a 2.8 times oversubscription of its $500 million Sukuk (Islamic bonds) issuance. The FGB Sukuk transaction commenced on Wednesday and ended on the same day at a total value of $1.4 billion.
Led by FGB, Citi, HSBC, NBAD and Standard Chartered banks jointly, the transaction set the final price for the five-year Sukuk at 287.5 basis points above midswaps………………………………………..Full Article: Source