Al Hilal unlocks tier one door with forceful perp

abu dhabi px230
By Dan Alderson
26 Jun 2014

United Arab Emirates bank Al Hilal reopened the region’s dollar tier one market this week with an aggressively priced debut $500m perpetual sukuk — the first of its kind in the market for over a year, and at one of the tightest ever yields.

Al Hilal, Citi, Emirates NBD Capital, HSBC, National Bank of Abu Dhabi and Standard Chartered arranged the sukuk, which looks likely to spur other banks to follow suit. At least one UAE conventional bank is said to be readying a similar tier ...

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