September 12, 2018 / 5:26 AM / 9 months ago

Abu Dhabi Islamic Bank sets initial price guidance for perpetual sukuk

DUBAI, Sept 12 (Reuters) - Abu Dhabi Islamic Bank, the largest sharia-compliant lender in Abu Dhabi, has given an initial price guidance in the region of 7.5 percent for a planned perpetual dollar sukuk sale, according to a document issued by one of the banks leading the deal.

The sukuk, or Islamic bonds, will be of benchmark size, which generally means upwards of $500 million.

The Additional Tier 1 bonds, non-callable for a five-year period, are expected to price later on Wednesday. Abu Dhabi Islamic Bank, HSBC and JPMorgan are coordinating the deal. (Reporting by Davide Barbuscia; Editing by Sunil Nair)

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