First Gulf Bank of Abu Dhabi Said to Raise $650 Million From Bond Sale - Bloomberg

First Gulf Bank PJSC (FGB), the United Arab Emirates’ lender controlled by Abu Dhabi’s ruling family, sold $650 million of Islamic bonds, according to two bankers familiar with the transaction.

The five-year sukuk was priced to yield 200 basis points above the benchmark mid-swap rate, said bankers, who declined to be identified because the details are private.

First Gulf Bank is selling the bonds under a $3.5 billion sukuk program. Citigroup Inc., HSBC Holdings Plc and Standard Chartered Plc managed the sale.

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