April 18, 2018 / 12:01 PM / 5 months ago

BRIEF-UAE's Noor Bank Prices $500 Mln Sukuk Issuance With 5-Year Tenor

April 18 (Reuters) - NOOR BANK:

* PRICES ITS $500 MILLION SUKUK ISSUANCE WITH A FIVE-YEAR TENOR

* SAYS BENCHMARK-SIZED, SENIOR UNSUBORDINATED SUKUK WITH WAKALA STRUCTURE WAS PRICED WITH PROFIT RATE OF 4.471 PERCENT

* INITIAL PRICING GUIDANCE OF 175 BPS AREA OVER MID-SWAPS WAS GIVEN EARLIER ON APRIL 17 WITH STRONG ORDER BOOK ENABLING FINAL PRICING TO TIGHTEN

* ISSUANCE, WHICH MATURES IN APRIL 2023, WAS OVERSUBSCRIBED 2.1 TIMES, RECEIVING ORDERS OF $1.07 BILLION FROM 50 BIDS ACROSS DIVERSE GROUP OF INVESTORS

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below