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UAE’s ADIB sukuk price seen mid-200 bps over midswaps

Abu Dhabi Islamic Bank has issued an initial pricing indication for a five-year dollar-denominated benchmark-sized sukuk, or Islamic bond, with pricing set for Tuesday at the earliest, leads said on Monday.

November 22, 2011 2:09 by

The bank will look to price the offering in the mid-200s over midswaps area, according to a document sent out by arranging banks, seen by Reuters.

A benchmark-sized issue indicates an amount of $500 million and upwards.

Investor meetings were due to conclude in London on Monday through ADIB, Citi, National Bank of Abu Dhabi, HSBC, Nomura, and Standard Chartered. (Reporting by David French)

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