ADIB to price $500m sukuk today
Abu Dhabi, November 22, 2011
Abu Dhabi Islamic Bank has issued price guidance for a $500 million five-year Islamic bond, or sukuk, which will price later on Tuesday, arranging banks said.
Pricing guidance has been set at 250 basis points over midswaps, plus or minus 5 bps, with books due to close at lunchtime London time and final pricing earmarked for soon after, a source at a lead said.
ADIB, Citi, HSBC, National Bank of Abu Dhabi , Nomura, and Standard Chartered are the lead managers on the deal.-Reuters