Mubasher: Abu Dhabi Islamic Bank (ADIB) repaid in full a $500 million (AED 1.835 billion) sukuk from its own sources, according to a statement.

The 5-year sukuk, which was listed on the London Stock Exchange (LSE), are matured on 30 November

Launched in 2011 with a 3.78% profit rate, the sukuk was more than 4 times oversubscribed.

The sukuk were rated A2 by Moody’s and A+ by Fitch, with a stable outlook from both rating firms.

 “ADIB’s ability to repay the Sukuk from its own resources and without the need for refinancing demonstrates our strong liquidity position, especially in these challenging market conditions,” Abdul Qadir Khanani, Group Treasurer at ADIB said.