Abu Dhabi Islamic Bank (ADIB) has successfully issued the world’s first Shari’ah- compliant hybrid tier 1 Sukuk and the region’s first publically issued perpetual and tier 1 instrument. This strategic transaction marks a key milestone for the global Islamic finance industry and a major and rare innovation by an Islamic bank.
The $1 billion perpetual non-call six-year issue was priced at an expected profit rate of 6.375 per cent, one of the lowest rates achieved for any perpetual instrument by a global bank………………………………………..Full Article: Source