Abu Dhabi Islamic Bank, the emirate’s largest sharia-compliant lender, launched a $1 billion sharia-compliant hybrid Islamic bond, or sukuk, on Thursday to boost its core capital, arranging banks said, after attracting strong demand.
The Tier 1 perpetual sukuk, which has no defined maturity date, was launched at a profit rate of 6.375 per cent, at the tighter end of revised guidance, after orders totalled over $15 billion………………………………………..Full Article: Source