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ADIB plans sukuk issuance to boost capital
- United Arab Emirates: Wednesday, October 31 - 2012 at 02:25
Abu Dhabi Islamic Bank (ADIB) is planning to boost its capital through the sale of a Shari'ah-compliant debt instrument, in what would be a rare method by a regional lender to boost its core capital ratios, Reuters has reported. The sukuk sale is likely to be benchmark-sized, a source at one of the arranging banks said. Benchmark size bonds are typically $500 million or more in size. ADIB, the largest Shari'ah-compliant lender by market value in Abu Dhabi, will start investor meetings on October 31 ahead of a potential Islamic bond sale, the arranging banks said.
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