Abu Dhabi’s al Hilal Bank plans $500 mln capital-boosting sukuk - Al Arabiya News

Abu Dhabi’s al Hilal Bank plans $500 mln capital-boosting sukuk - Al Arabiya News:



"Abu Dhabi’s al Hilal Bank plans to raise $500 million from a capital-boosting Islamic bond issue, a document from lead arrangers said on Monday.



The transaction, which has a perpetual tenor but can be bought back by the lender after the fifth year, is earmarked to price in the area of 6 percent. Order books for the trade are currently worth around $1 billion, the document added.



The sukuk will boost the bank’s Tier 1 - or core - capital."



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