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DUBAI/ Reuters
Abu Dhabi government-owned Al Hilal Bank has raised $100 million through a private placement of sukuk, or Islamic bonds, sources familiar with the matter said on Monday. The issue, led by First Abu Dhabi Bank, has a two-year maturity and offers 90 basis points over three-month London Interbank Offered Rate (Libor).
The bank, an Islamic lender, issued a privately placed $225 million sukuk in June last year, describing the deal as the first private placement of sukuk by a United Arab Emirates financial institution and the first senior, unsecured US dollar-denominated sukuk by an Abu Dhabi
entity since 2013.