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By Davide Barbuscia and Tom Arnold
DUBAI, Aug 7 (Reuters) - Abu Dhabi government-owned Al Hilal Bank has raised $100 million through a private placement of sukuk, or Islamic bonds, sources familiar with the matter said on Monday.
The issue, led by First Abu Dhabi Bank
FAB.AD
, has a two-year maturity and offers 90 basis points over three-month London Interbank Offered Rate (Libor).
Al Hilal Bank did not immediately respond to an email and calls seeking comment.
The bank, an Islamic lender, issued a privately placed $225 million sukuk in June last year, describing the deal as the first private placement of sukuk by a United Arab Emirates financial institution and the first senior, unsecured U.S. dollar-denominated sukuk by an Abu Dhabi entity since 2013.
That sukuk matures in January 2019, while the new $100 million issue is due on Aug. 14 of the same year.
Al Hilal Bank in 2013 established a $2.5 billion sukuk programme, under which it issued - in addition to the privately placed sukuk - a $500 million five-year sukuk.
The bank also raised additional capital through a $500 million hybrid Additional Tier 1 sukuk in 2014.
Al Hilal is rated A1 by Moody's and A+ by Fitch.
(Additional reporting by Stanley Carvalho; Editing by David Holmes) ((Davide.Barbuscia@thomsonreuters.com;))
DUBAI, Aug 7 (Reuters) - Abu Dhabi government-owned Al Hilal Bank has raised $100 million through a private placement of sukuk, or Islamic bonds, sources familiar with the matter said on Monday.
The issue, led by First Abu Dhabi Bank
Al Hilal Bank did not immediately respond to an email and calls seeking comment.
The bank, an Islamic lender, issued a privately placed $225 million sukuk in June last year, describing the deal as the first private placement of sukuk by a United Arab Emirates financial institution and the first senior, unsecured U.S. dollar-denominated sukuk by an Abu Dhabi entity since 2013.
That sukuk matures in January 2019, while the new $100 million issue is due on Aug. 14 of the same year.
Al Hilal Bank in 2013 established a $2.5 billion sukuk programme, under which it issued - in addition to the privately placed sukuk - a $500 million five-year sukuk.
The bank also raised additional capital through a $500 million hybrid Additional Tier 1 sukuk in 2014.
Al Hilal is rated A1 by Moody's and A+ by Fitch.
(Additional reporting by Stanley Carvalho; Editing by David Holmes) ((Davide.Barbuscia@thomsonreuters.com;))
