Noor Bank issues $500mn Tier 1 capital Islamic bonds

DUBAI / WAM

Noor Bank successfully priced its debut perpetual US$ 500 million Tier 1 capital issuance.
In the midst of multiple regional issuers on the road looking to raise capital market funding, Noor Bank was able to print its inaugural AT1 Sukuk at a very competitive pricing on the back of strong investor demand. This was the first perpetual Tier 1 issuance from UAE in 2016.
The final pricing came at the back of global roadshows across Middle East, Asia and Europe with an order book crossing over US$ 1 billion.
Speaking about the Sukuk issuance, Hussain Al Qemzi, CEO of Noor Bank, said: “We are pleased with the outcome of our inaugural Tier 1 issuance, which has again enabled us to set an industry benchmark by printing the lowest priced contingent Basel 3 compliant Tier 1 paper in Dubai. Our senior Sukuk issued last year continues to remain one of the lowest priced FI Sukuk in UAE till date.
“The strong investor demand we saw during this exercise was a testament of our brand recognition in the international capital markets as well as validation of our growth strategy by global investors’ community.”

EZDAN places $500mn in sukuk

Dubai / EMIRATES BUSINESS

Ezdan Holding Group Q.S.C. priced its inaugural Sukuk transaction in the debt capital markets with a very successful US$ 500 million 5 year Sukuk issue recently. The transaction attracted an order-book of more than US$ 800 mn.
HE Sheikh Dr Khalid bin Thani bin Abdullah Al Thani, Chairman of Ezdan Group Holding, said: “The size of the coverage, which almost doubled in a record time is nothing but a reflection of the significant confidence that our partners in the financial community have towards the Group.”