| First Gulf Bank (FGB.AD) plans to issue a $500 million, five-year Islamic bond, or sukuk, this week, the Abu Dhabi-based lender said Tuesday. The sukuk will be issued under FGB's $3.5 billion trust certificate issuance program, the bank said in an emailed statement. Proceeds from the issue are to be used for Islamic general corporate purposes and to fund the lender's Islamic loan book growth, FGB added.
The initial price talk for the sukuk is around 287.5 basis points over mid swaps, a banker familiar with the matter told Zawya Dow Jones. He said the books for the deal are now open, and final pricing is expected later in the week...........................................Full Article: Source
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