Al Hilal Bank prices USD500m sukuk
Abu Dhabi government-owned Al Hilal Bank priced its debut $500m five-year sukuk issue, as Gulf issuers flood back to the market to take advantage of conducive market conditions. The transaction priced at par with a profit rate of 3.267 percent and a spread of 170 basis points over midswaps. The spread had tightened significantly from the initial price thoughts, released on Sunday, which had indicated a spread of 190 bps over the benchmark.
Syndicate
