FAB launches fast $500m five year sukuk
First Abu Dhabi Bank printed a quick $500m five year Reg S sukuk on Tuesday morning in London. Because the deal was driven by reverse enquiry, leads started the execution process by announcing final guidance.
Final guidance was put out at 90bp-95bp over mid-swaps and the launch price was at the tight end of the range.“The deal size was capped by the sukuk assets available rather than demand, so it was a very strong trade,” said one syndicate banker on the deal. ...
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