IslamicFinance.de

Abu Dhabi government-owned Al Hilal Bank has raised $100 million through a private placement of sukuk. The issue, led by First Abu Dhabi Bank, has a two-year maturity and offers 90 basis points over three-month London Interbank Offered Rate. The bank issued a privately placed $225 million sukuk in June last year, describing the deal as the first private placement of sukuk by a United Arab Emirates financial institution. That sukuk matures in January 2019, while the new $100 million issue is due on Aug. 14 of the same year. Al Hilal Bank is rated A1 by Moody's and A+ by Fitch Ratings.