IslamicFinance.de

Abu Dhabi government-owned Al Hilal Bank has raised $225 million by privately placing Islamic bonds. The issue, maturing in January 2019, was priced at the three-month London interbank offered rate plus 160 basis points. It was the first unsecured U.S. dollar sukuk issue by an Abu Dhabi bank since 2013. CEO Khaled Abdulla Alkhoori said the bank aims to work towards raising funding for the medium term to enhance their funding profile. The issue was the second tranche of the bank's $2.5 billion notes programme. In the first tranche, Al Hilal raised $500 million of five-year debt in 2013.