Abu Dhabi Islamic Bank’s (ADIB) debut perpetual sukuk have rallied since their sale last month on bets the lender is well positioned to capitalise on the emirate’s economic upturn, even as debt of emerging market peers dropped.
The world’s first dollar-denominated Islamic notes that do not mature yielded 6.04 per cent yesterday, down 34 basis points, or 0.34 percentage point, since their November 8 issuance, according to data compiled by Bloomberg. Over the same period, the average yield on HSBC/Nasdaq Dubai’s US Dollar Sukuk Financial Services Index gained 17 basis points to 2.9 per cent………………………………………..Full Article: Source