Soaring investor demand for UAE and Arabian Gulf sukuk shows little sign of abating as the region heads for its most active year of bond sales on record.
National Bank of Abu Dhabi said this weekend that it had raised 500 million Malaysian ringgit (Dh600.3m) through a sale of subordinated Islamic bonds, the latest in a string of debt sales aimed at Asian investors. The 15-year sukuk was priced with a coupon of 4.75 per cent following strong investor demand, said the bank.
"This new issue, which also strengthens NBAD's capital levels, reflects the commitment of NBAD to create a yield curve in [ringgit] to meet the strong investor demand for our credit and fits in very well with our core strategy of diversifying the bank's funding sources and extending our maturity profile," said Stephen Jordan, NBAD's group treasurer.
No comments:
Post a Comment