First #AbuDhabi Bank sells $500 mln sukuk - Reuters

First Abu Dhabi Bank sells $500 mln sukuk - Reuters:

First Abu Dhabi Bank (FAB) , the largest lender in the United Arab Emirates, is selling sukuk, or Islamic bonds, worth $500 million dollars, a document by one of the banks leading the deal showed.

The bank is marketing the paper with a profit rate equivalent to 90 basis points over mid-swaps, according to the document.