Abu Dhabi's Al Hilal Bank to price debut sukuk Tues, subject to markets
Abu Dhabi government-owned Al Hilal Bank will price its debut Islamic bond offering on Tuesday, subject to market conditions, especially the shutdown of the U.S. government. Books are now open for the transaction, with commitments from investors already totalling $2.75 billion. The five-year sukuk will be of benchmark size - traditionally understood to be worth at least $500 million - with initial price guidance set at 190 basis points over midswaps. Al Hilal is due to conclude meetings with fixed-income investors on Monday in London. Citigroup, HSBC, National Bank of Abu Dhabi and Standard Chartered are arranging the roadshows, along with Al Hilal itself.
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