Media ININ Economy We Trust
Abu Dhabi on September 13
Abu Dhabi Islamic Bank announced the issuance of a notice to shareholders to repay indefinite-term sukuks to support the first tier of capital, issued at a value of $750 million, issued on September 20, 2018, with a profit rate of 7.125%. The redemption will take place, according to the conditions for issuing the sukuks, on the first call date, which is September 20, 2023. .
The outstanding Sukuk Certificates will be redeemed for the Trustee Call Amount, which is equal to the face amount of the Certificates plus any payments due from 20 September 2023. Upon redemption, the Certificates will be de-admitted to the official trading list of the Irish Stock Exchange.
In July 2023, Abu Dhabi Islamic Bank successfully issued another sukuk worth US$750 million, which are indefinite-term sukuk, to increase the first tier of capital.
Abu Dhabi Islamic Bank – rated A2 and A+ by Moody’s and Fitch respectively, with a stable future outlook – priced the non-redeemable sukuks for a period of five and a half years at a profit rate of 7.25% annually, and are payable semi-annually. . These instruments have been listed for trading on the London Stock Exchange.
The offering received record demand and great demand, attracting the interest of more than 240 global and regional investors, as the value of orders reached 7 billion US dollars, exceeding the target value by more than nine times, and the final pricing reached 62.5 basis points less than the initial pricing index, as this offering came. Driven by broad investor demand from three regions.
The new sukuk will replace the previous issuance, and will maintain the group’s exemplary position of capital structure and its strong position with regard to the first tier of capital. It is structured to be in line with the internationally agreed Basel III regulatory framework, which includes detailed capital and liquidity standards.
