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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




Tags: sukuk | bond | Abu Dhabi Islamic bank |

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