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Abu Dhabi Islamic Bank markets dollar benchmark sukuk
By Rebecca Melvin
New York, Sept. 5 – Abu Dhabi Islamic Bank is meeting with fixed-income investors this week regarding a proposed U.S. dollar-denominated benchmark of Tier 1 perpetual Islamic notes, which will be non-callable for five years, according to a market source.
The meetings are being held in the Middle East, Asia and Europe, with Abu Dhabi Islamic Bank, HSBC and JPMorgan as joint global coordinators and structuring agents for the sukuk, and Abu Dhabi Islamic Bank, Citi, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, JPMorgan, Sharjah Islamic Bank and Standard Chartered Bank as joint lead managers and joint bookrunners.
At the conclusion of the meetings, which began on Monday, a sukuk will be issued subject to market conditions.
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