Al Hilal Bank raises private placement funding $225 Million
Abu Dhabi's Al Hilal Bank acquired $225MM RegS floating rate note Sukuk at 3mL+160bps under its $2.5 billion existing Trust Certificate Issuance Program. This trade marks the return to senior unsecured dollar Sukuk market since 2013 by an Abu Dhabi financial institution. CEO of Al Hilal Bank, Khaled Abdulla Alkhoori, said this was the first Islamic private placement in the UAE. The bank aims to work towards raising funding for medium term to enhance its funding profile.
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