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ADIB hires $750m sukuk issuance managers

ADIB hires $750m sukuk issuance managers
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ADIB
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Dubai - Mubasher: Abu Dhabi Islamic Bank (ADIB) hired a number of international banks to arrange the sale of sukuk worth $750 million, Reuters reported.

The sukuk or Islamic bonds sale is still subject to the bank's shareholders approval.

HSBC and JPMorgan have been chosen as coordinators for the deal.

The bank’s shareholders will vote on 19 August on the sukuk issuance, as well as the repayment of an outstanding $1 billion perpetual sukuk issued in 2012, and a proposed capital hike by AED 1 billion.