Abu Dhabi Islamic Bank (ADIB) has begun its series of roadshows to market a benchmark Sukuk issuance planned to bolster the bank’s tier 1 capital. Abu Dhabi Islamic Bank (ADIB) said that a group of banks including ADIB itself, HSBC, Morgan Stanley, National Bank of Abu Dhabi and Standard Chartered Bank are conducting a series of investor meetings in Asia, the Middle East and Europe.
The bank said, “An offering of Hybrid Tier 1 perpetual USD denominated Shari’ah compliant instruments may follow, subject to market conditions.” Market talk suggests the issuance would be ‘benchmark’ size of at least $500 million………………………………………..Full Article: Source