Singapore investors dipped heartily into the world’s first syariahcompliant Tier 1 perpetual sukuk (Islamic bonds) despite the financial centre not being known for its appetite for Islamic finance.
So keen were Singapore investors on the offering that they accounted for 23 per cent or US$3.5 billion of the US$15.5 billion order book for Abu Dhabi Islamic Bank’s (ADIB) US$1 billion Tier 1 perpetual sukuk. In the end, however, allocations were scaled back and they ended up with 18 per cent of the issue. ADIB, majority owned by the Abu Dhabi royal family, last week sold the world’s first perpetual sukuk issued by a bank in the international market………………………………………..Full Article: Source