Abu Dhabi Islamic Bank PJSC, the United Arab Emirates’ second-biggest lender complying with Shariah principles, will start meeting overseas investors this week before a possible sale of Islamic bonds.
The bank will hold “non-equity” meetings in Asia, Europe and the Middle East from Oct. 20, the lender said in a statement to the Abu Dhabi bourse today. Abu Dhabi Islamic hired HSBC Holdings Plc, Standard Chartered Plc and Barclays Plc to help sell bonds, two bankers familiar with the plan said last week.
Bond sales from the Persian Gulf have picked up since Dubai World in September reached an agreement with 99 percent of its creditors to alter the terms on $24.9 billion of debt. Qatar Islamic Bank SAQ issued $750 million of five-year Islamic bonds on Sept. 30. The Dubai government last month raised $1.25 billion in its first bond sale since the Dubai World debt crisis.
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