Al Hilal Bank eyes capital-boosting sukuk issue
Dubai, June 12, 2014
Abu Dhabi government-owned Al Hilal Bank may sell a benchmark-sized Tier 1 capital-boosting dollar sukuk issue after announcing plans to meet fixed income investors, a document from lead managers said on Thursday.
The Islamic lender, owned by the Abu Dhabi Investment Council, has chosen itself as well as Citigroup, Emirates NBD, HSBC, National Bank of Abu Dhabi and Standard Chartered to arrange roadshows in the Middle East, Asia and Europe starting June 15.
A benchmark-sized, dollar-denominated perpetual sukuk offering may follow, subject to market conditions, the document added. Traditionally, benchmark size is understood to mean at least $500 million. - Reuters