Home UAE Abu Dhabi Abu Dhabi’s Al Hilal Bank Plans $500m Capital-Boosting Sukuk The transaction is earmarked to price in the area of six per cent, a document from lead arrangers showed. by Reuters June 23, 2014 Abu Dhabi’s Al Hilal Bank plans to raise $500 million from a capital-boosting Islamic bond issue, a document from lead arrangers said on Monday. The transaction, which has a perpetual tenor but can be bought back by the lender after the fifth year, is earmarked to price in the area of six per cent. Order books for the trade are currently worth around $1 billion, the document added. The sukuk will boost the bank’s Tier 1 – or core – capital. No timeframe for when the issue would complete was given in the update, but a market source told IFR – a Thomson Reuters unit – that it was expected to price on Tuesday. The unlisted 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 the deal. 0 Comments