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Abu Dhabi’s FAB Sukuk Company has priced a five-year senior unsecured dollar sukuk to be listed on London Stock Exchange (LSE) as part of its $5 billion trust certificate issuance programme.
The special purpose entity, which has Abu Dhabi-listed FAB as its parent organisation, will settle the Islamic bond on 16th January 2025 with a maturity date of 16th January 2030.
Initial price thoughts (IPT) are T + 100 bps with a profit rate to be decided or S/A 30/360.
The UAE’s Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates NBD Capital, FAB are joint lead managers and book runners, as are Industrial and Commercial Bank of China, Jeddah-based Islamic Corporation for the Development of the Private Sector and Standard Chartered.
(Writing by Imogen Lillywhite; editing by Seban Scaria seban.scaria@lseg.com)
