Published on 1/23/2024 in the Prospect News Emerging Markets Daily.
New Issue: First Abu Dhabi issues $800 million 4.779% trust certificates due 2029
By Marisa Wong
Los Angeles, Jan. 23 – First Abu Dhabi Bank PJSC issued $800 million of 4.779% trust certificates due Jan. 23, 2029 (Aa3//AA-) at par, according to a final term sheet.
The non-callable certificates list FAB Sukuk Co. Ltd. as issuer or trustee.
Dubai Islamic Bank PJSC, Emirates NBD Bank PJSC, First Abu Dhabi Bank PJSC, HSBC Bank plc, Islamic Corp. for the Development of the Private Sector, KFH Capital Investment Co. KSCC, Sharjah Islamic Bank PJSC and Standard Chartered Bank acted as the managers.
First Abu Dhabi Bank is a lender operating in the United Arab Emirates.
Issuer: | FAB Sukuk Co. Ltd.
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Amount: | $800 million
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Issue: | Trust certificates, series 8, tranche 1
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Maturity: | Jan. 23, 2029
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Bookrunners: | Dubai Islamic Bank PJSC, Emirates NBD Bank PJSC, First Abu Dhabi Bank PJSC, HSBC Bank plc, Islamic Corp. for the Development of the Private Sector, KFH Capital Investment Co. KSCC, Sharjah Islamic Bank PJSC and Standard Chartered Bank
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Profit rate: | 4.779%
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Price: | Par
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Yield: | 4.779%
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Call features: | Non-callable
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Pricing date: | Jan. 18
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Settlement date: | Jan. 23
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Ratings: | Moody’s: Aa3
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| Fitch: AA-
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ISIN: | XS2747271018
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