By Christine Van Dusen
Atlanta, Nov. 8 - Abu Dhabi Islamic Bank priced a $1 billion issue of 6 3/8% perpetual Islamic bonds at par to yield 6 3/8%, a market source said.
The notes were talked at a yield in the 7% area.
Abu Dhabi Islamic Bank, HSBC, Morgan Stanley, National Bank of Abu Dhabi and Standard Chartered Bank were the bookrunners for the Regulation S-only sukuk.
The notes are non-callable for six years.
The final book was $15.5 billion, the source said.
| Issuer: | Abu Dhabi Islamic Bank
|
| Amount: | $1 billion
|
| Maturity: | Perpetual
|
| Description: | Islamic bonds
|
| Bookrunners: | Abu Dhabi Islamic Bank, HSBC, Morgan Stanley, National Bank of Abu Dhabi, Standard Chartered Bank
|
| Coupon: | 6 3/8%
|
| Price: | Par
|
| Yield: | 6 3/8%
|
| Call features: | Non-callable for six years
|
| Trade date: | Nov. 8
|
| Ratings: | Moody's: A2
|
| Fitch: A+
|
| Distribution: | Regulation S only
|
| Price talk: | 7% area
|
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