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FAB expected to issue $500m Sukuk

FAB expected to issue $500m Sukuk
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Abu Dhabi - Mubasher: First Abu Dhabi Bank (FAB) is forecast to issue $500 million Sukuk at an initial price of around 85 basis points over US treasuries, Reuters reported.

The bank has begun taking orders for the Sukuk issuance, as shown by a cited document from one of the banks arranging the transaction.

Dubai Islamic Bank (DIB), Emirates NBD Capital, First Abu Dhabi Bank (FAB), KFH Capital, Saudi National Bank, Sharjah Islamic Bank, Standard Chartered, and The Islamic Corporation for the Development of the Private Sector are arranging the Sukuk sale.

It is noteworthy to mention that in 2021, the bank reported an about 19% year-on-year (YoY) rise in the net profits attributable to the shareholders to AED 12.531 billion, compared to AED 10.555 billion.