Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) said Saturday it has repaid in full a $ 750 million (AED 2.755 billion) sukuk from its own sources, reflecting the bank’s financial strength and comfortable liquidity position.

The sukuk repayment was released on 4^th of November, 2015.

The five-year sukuk was 4.8 times oversubscribed when issued on November 1 2010 at a profit rate of 3.745%, which was one of the lowest profit rates achieved for a five year offering by a GCC Bank at that time. The sukuk had allocation in the Middle East, Europe and Asia, underscoring the regional and international investor confidence in ADIB and the fundamentals of Abu Dhabi, according to the bank.

ADIB’s Group Treasurer, AbdulQadir Khanani, commented: “The bank’s financial strength and liquidity position has always enabled us to keep our promises and today, we have repaid our investors $ 750 Million. The ability to repay from our own resources without the need to refinance is testament to the fundamentals of our business, especially in the midst of challenging market conditions.”

At the time of issuance the sukuk were rated A2 by Moody's and A+ by Fitch with a stable outlook from both rating agencies. Deal Arrangers for the five-year sukuk were Barclays Capital, HSBC and Standard Chartered Bank. ADIB’s Al Musharakah sukuk was listed on the London Stock Exchange (LSE).