Abu Dhabi's Al Hilal Bank launches $500m debut sukuk

Citigroup, HSBC, NBAD and Standard Chartered involved in arranging the deal

Abu Dhabi government-owned Al Hilal Bank launched its debut $500m five-year sukuk issue.

Abu Dhabi government-owned Al Hilal Bank launched its debut $500m five-year sukuk issue.

Abu Dhabi government-owned Al Hilal Bank launched its debut $500m five-year sukuk issue, with the projected pricing much tighter than the initial guidance, a document from lead managers said on Tuesday, indicating healthy demand for the deal.

The transaction is set to price at 170 basis points over midswaps, the document said.

Initial price thoughts on the deal, released on Sunday, indicated it would have a spread of 190 bps over the same benchmark.

Orders from investors had reached $2.75bn, leads said on Monday, prior to the conclusion of roadshows.

The deal for Al Hilal, fully owned by state fund Abu Dhabi Investment Council, is being arranged by Citigroup, HSBC , National Bank of Abu Dhabi and Standard Chartered, along with Al Hilal itself.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

NOTE: Comments posted on arabianbusiness.com may be printed in the magazine Arabian Business

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
The flood gates open

The flood gates open

Turkey’s new fondness for sukuk has been met with increasing...

"Sleeping giant" debt market awakes in Saudi Arabia

After years in which the growth of Saudi Arabia's bond market...

Gulf bond issuers see opportunity in Malaysia

Gulf bond issuers see opportunity in Malaysia

Gulf looks to tap Malaysian investors with ringgit issues; country...

Most Discussed
  • 5
    How Saudi Arabia blundered into OPEC oil cut

    Before Saudi Arabia's decision to move to unlimited production, analysts broadly thought break-even for shale was usd80. After the move, shale producers... more

    Tuesday, 30 May 2017 12:44 PM - Anastasios Dalgiannakis
  • 2
    One killed, 14 injured in multiple Dubai crashes

    The drivers should pay attention to driving and not their phones, social media is the problem, see it everyday, cars all over the road taking up 2 lanes... more

    Tuesday, 30 May 2017 9:07 AM - Good driver
  • 1
    The cost of the US laptop ban

    US is really making crazy decisions and deals will not help anybody citizens or travellers. confused president and his rules more

    Tuesday, 30 May 2017 9:04 AM - philip butler
  • 19
    It's time for restaurants to stop shaming smokers

    Comparing Driving to Smoking is the most shameless ploy to convince people that we should not persecute smokers.

    If your vehicle hits someone... more

    Thursday, 25 May 2017 12:47 PM - Elkhorn
  • 9
    Revealed: huge disparity in Dubai school fees

    I recall a recent study by Alpen Capital suggesting that the average cost of a child's entire life of schooling in Dubai is about AED 1 million. Although... more

    Monday, 29 May 2017 9:21 AM - New Expat
  • 5
    How Saudi Arabia blundered into OPEC oil cut

    Before Saudi Arabia's decision to move to unlimited production, analysts broadly thought break-even for shale was usd80. After the move, shale producers... more

    Tuesday, 30 May 2017 12:44 PM - Anastasios Dalgiannakis
sponsoredTracking