The National Bank of Abu Dhabi (NBAD) has successfully executed the UK government’s debut Sukuk issue in its capacity as Joint Lead Manager and Joint Bookrunner.
This groundbreaking Sukuk is the first-ever sovereign Sukuk by a non-Islamic country and the first ever public sterling Sukuk. The deal is for GBP200 million and has a maturity of 5 years. The Sukuk offering was 11.5 times oversubscribed and was very well received by the investor community, and in particular by major Institutional and Islamic accounts.
“This mandate confirms NBAD’s position as a leading Debt Capital Markets and Sukuk house and is testament to our capability to deliver innovative term financing solutions to our customers,” said Alex Thursby, the Group Chief Executive Officer of NBAD.
Year-to-date global Sukuk issuance has reached US$24billion.
“This growing market provides a valuable and diversified funding source for clients across the West-East Corridor,” Mr. Thursby said.
Thursday, June 26- 2014 @ 11:08 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.