January 14, 2020 / 8:48 AM / 15 days ago

First Abu Dhabi Bank sells $500 mln sukuk

DUBAI, Jan 14 (Reuters) - First Abu Dhabi Bank (FAB) , the largest lender in the United Arab Emirates, is selling sukuk, or Islamic bonds, worth $500 million dollars, a document by one of the banks leading the deal showed.

The bank is marketing the paper with a profit rate equivalent to 90 basis points over mid-swaps, according to the document. (Reporting by Davide Barbuscia, editing by Louise Heavens)

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