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Al Hilal Bank to raise $500m from Islamic bond issue

: Tuesday, June 24 - 2014 @ 01:14

Abu Dhabi lender, Al Hilal Bank plans to raise $500m from an Islamic bond issue to boost its Tier 1 – or core – capital, Reuters has reported, citing a document from lead arrangers. The transaction, which has a perpetual tenor but can be bought back by the lender after the fifth year, is earmarked to price in the area of 6%. Order books for the trade are currently worth around $1bn, the document said.

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Tuesday, June 24- 2014 @ 1:14 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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