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UAE bank FGB prices 5-yr $650 mln sukuk at MS+200 bps - sources
July 26, 2011 / 1:05 PM / 6 years ago

UAE bank FGB prices 5-yr $650 mln sukuk at MS+200 bps - sources

ABU DHABI, July 26 (Reuters) - Abu Dhabi’s First Gulf Bank raised $650 million through a five-year Islamic bond sale on Tuesday, carrying a coupon of 3.797 percent, two sources involved in the deal said.

FGB, the second largest lender in the United Arab Emirates by market value, priced its Islamic bond, or sukuk, in line with its final guidance of 200 basis points over midswaps indicated earlier in the day.

Citi , HSBC and Standard Chartered were mandated bookrunners for the sale. (Reporting by Stanley Carvalho and Dinesh Nair,; Writing by Rachna Uppal)

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